Marsh & McLennan Agency Acquires Progressive Benefit Solutions; Terms Not Disclosed
Marsh & McLennan Agency LLC (MMA), a subsidiary of broker Marsh Inc., today announced that it has acquired Progressive Benefit Solutions (PBS), a $5 million revenue employee benefits agency based in Raleigh, North Carolina. Terms of the transaction were not disclosed.
PBS will operate as a division of Rutherfoord, a Marsh & McLennan Agency LLC company, expanding Rutherfoord's employee benefits capabilities and resources in the Raleigh market. PBS offers a wide-range of health, wellness, compliance, and executive compensation products and services to midsize clients. John McDonnell, William Salmon, Rick Kelly, and the rest of the PBS team will join Rutherfoord and continue operating out of PBS' existing Raleigh office. The transaction is
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