Marsh & McLennan Agency LLC (MMA), the middle market agency subsidiary of Marsh, today announced the acquisition of Ironwood Insurance Services, LLC, one of the leading independent brokers in the Southeast. Terms of the transaction were not disclosed.
Founded in 2007 and based in Atlanta, Georgia, Ironwood provides commercial property/casualty insurance, employee benefits, and private client solutions to midsize businesses and individuals throughout the US. Ironwood is a leading provider of pre-close due diligence, transactional solutions, and risk management services to private equity funds and their portfolio companies. It also has dedicated expertise in serving the real estate, construction, energy, manufacturing, professional services, and health care industries.
Ironwood's 85 colleagues will continue to operate out of the firm's existing Atlanta and Charlotte, North Carolina, offices. Will Underwood, founder and CEO of Ironwood, will continue to serve as CEO and will take on the additional role of Private Equity Center of Excellence Leader for MMA, nationally. Partners Matt Lovein and Matt Hene will become co-Presidents of Ironwood.
David Eslick, CEO of MMA, commented: "The private equity, merger and acquisition space is a dynamic, fast growing market in our industry. We are proud to welcome Ironwood to MMA and expand our capabilities and resources under Will, Matt, and Matt's leadership."
Peter Krause, President of MMA Southeast, said: "Ironwood's vision for growth, dynamic culture, and commitment to client service make them a terrific fit for MMA's growing national footprint. Will and his team have built a premier brokerage firm."
Mr. Underwood added: "We are thrilled to join MMA and to continue our commitment to client service, employee development, and community involvement. Our culture and track record of offering industry-leading solutions and services will thrive in an organization like MMA."
About Marsh & McLennan Agency
Marsh & McLennan Agency LLC is a subsidiary of Marsh established in 2008 to serve as a platform for the middle market. MMA offers commercial property, casualty, personal lines, and employee benefits to midsize businesses and individuals across North America.
Marsh is the world's leading insurance broker and risk adviser. With over 35,000 colleagues operating in more than 130 countries, Marsh serves commercial and individual clients with data driven risk solutions and advisory services. Marsh is a business of Marsh & McLennan Companies (NYSE: MMC), the leading global professional services firm in the areas of risk, strategy and people. With annual revenue approaching US$17 billion and 76,000 colleagues worldwide, MMC helps clients navigate an increasingly dynamic and complex environment through four market-leading businesses: Marsh, Guy Carpenter, Mercer, and Oliver Wyman. Follow Marsh on Twitter @MarshGlobal; LinkedIn; Facebook; and YouTube, or subscribe to BRINK.