November 4, 2011
Marlborough Benefits Division Acquired
A national insurance broker announced this morning it has acquired the employee benefits division of Kaeding, Ernst & Co., a Marlborough-based consulting firm.
Marsh & McLennan Agency LLC, a subsidiary of global broker Marsh Inc., will place the benefits division in its Bostonian Group. Terms of the deal were not disclosed.
It is the second Massachusetts acquisition this year for Marsh & McLennan, which acquired Boston-based Kinloch Consulting Group Inc. in February.
Kaedin, Ernst & Co. brings in approximately $600,000 in annual revenues, the company said.
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