NFP Announces Acquisition of AGS Benefits Group
National Financial Partners Corp. (NYSE: NFP) today announced the acquisition of AGS Benefits Group, LLC. Simultaneously with this acquisition, NFP acquired the management company of Dreyfuss & Birke, Ltd. (NFP Dreyfuss & Birke), a wholly-owned subsidiary of NFP since 2003, and combined NFP Dreyfuss & Birke with AGS Benefits. This combination establishes a major NFP-branded corporate benefits presence in New York. These transactions closed on January 3, 2012.
These combined operations have annualized revenue of approximately $18 million. AGS Benefits, with annualized revenue of approximately $12 million, is a full service 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.
