National Financial Partners Corp. New York (NYSE: NFP), has acquired and merged AGS Benefits Group LLC and the management company of Dreyfuss & Birke, Ltd., a wholly-owned subsidiary of NFP since 2003.
The combination establishes an NFP-branded corporate benefits presence in New York and will have annualized revenue of approximately $18 million. NFP says the transactions closed on January 3, 2012.
AGS Benefits, with annualized revenue of approximately $12 million, is a corporate benefits brokerage and consulting firm headquartered in New York City, with an office in Boston, and has been a member of the NFP Benefits Partners marketing organization since 2008. NFP Dreyfuss & Birke is an insurance brokerage and consulting firm based in New York City.
William Austin, Jordan Gray and Markum McCormick, managing directors of AGS Benefits, along with Paul Schnell, president of NFP Dreyfuss & Birke, will become managing directors, reporting to Ed O’Malley, president, NFP Corporate Client Group, NFP says.