White Plains, New York, November 01, 2013
Marsh & McLennan Agency LLC (MMA), a subsidiary of insurance broker Marsh Inc., today announced the acquisition of Elsey & Associates, a $4.5 million revenue agency based in Spring, Texas. Terms of the transaction were not disclosed.
Founded in 1978 as a provider of surety bonds and insurance coverage to the construction industry, Elsey & Associates has expanded over the years to offer a wide range of property/casualty and employee benefit products and services to a number of different businesses and individuals. All of Elsey’s leadership and employees, including President David Groppell and Chief Operating Officer Sharen Groppell, will join MMA and operate within the MMA Southwest region.
“Elsey & Associates’ strong community presence in the Houston area, dedication to service excellence, and top-notch leadership make it an excellent fit for MMA,” said Anthony Gruppo, CEO for MMA’s Southwest region, based in Houston. “We are delighted to welcome David, Sharen and the rest of the Elsey & Associates team to MMA. Their addition enables us to expand our construction capabilities and offer greater resources and a broader platform to serve the needs of clients throughout the Southwest.”
David Groppell added: "Joining MMA is an excellent opportunity for Elsey & Associates to build upon its success over the last 35 years. With the resources that MMA provides, our clients now have a wider range of products and services that address their emerging needs."
Commenting on the transaction, David Eslick, chairman and CEO of MMA, said: “Elsey & Associates is a great fit to MMA and another example of our strategy to add high caliber, local talent and expertise to enhance the resources available to our clients.”
About Marsh & McLennan Agency
Marsh & McLennan Agency LLC, a subsidiary of Marsh, was established in 2008 to meet the needs of midsize businesses in the U.S. MMA operates autonomously from Marsh to offer commercial property, casualty, personal lines, and employee benefits to clients across the U.S.