Marsh McLennan Agency buys independent agency Pelnik Insurance
Marsh McLennan Agency (MMA), the giant broker’s middle-market agency subsidiary, has sealed the acquisition of North Carolina-based independent agency Pelnik Insurance.
Terms of the transaction were not disclosed.
Led by CEO Chris Pelnik, Pelnik Insurance has offered employee health and benefits and private client services to midsize businesses and individuals throughout the Mid-Atlantic since 1994.
The agency has 19 employees across offices located in Cary and Greensboro, North Carolina, all of whom will join MMA.
Commenting on the acquisition, John Stanchina, CEO of MMA’s Mid-Atlantic region, said: “Pelnik Insurance has a talented team dedicated to delivering quality client service.”
He added: “With the addition of Pelnik Insurance, we continue to expand our reach and broaden our client offerings across North Carolina and the region.”
In a statement, Pelnik said: “Joining MMA is an opportunity to provide our colleagues growth opportunities and give clients access to the capabilities of an organization respected for its expertise and resources.”
Pelnik Insurance is the latest deal in MMA’s M&A spree throughout this year.
Earlier this month, Marsh’s retail agency business bought Southwest Truck Insurance Agency, a Texas-based provider of specialized transportation coverage.
Two months ago, the company struck a deal to buy Vaaler Insurance, a third-generation family-owned business and one of the largest independent agencies in North Dakota, while last April the firm acquired Montana-based PayneWest Insurance, a broker with around 700 staff and underwriting operations in Idaho, Montana, Oregon and Washington state.