Marsh & McLennan Agency LLC (MMA), the middle market agency subsidiary of Marsh, today announced the acquisition of Ironwood Insurance Services, LLC, one of the leading independent brokers in the Southeast. Terms of the transaction were not disclosed.
Founded in 2007 and based in Atlanta, Georgia, Ironwood provides commercial property/casualty insurance, employee benefits, and private client solutions to midsize businesses and individuals throughout the US. Ironwood is a leading provider of pre-close due diligence, transactional solutions, and risk management services to private equity funds and their portfolio companies. It also has dedicated expertise in serving the real estate, construction, energy, manufacturing, professional services, and health care industries.
Ironwood’s 85 colleagues will continue to operate out of the firm’s existing Atlanta and Charlotte, North Carolina, offices. Will Underwood, founder and CEO of Ironwood, will continue to serve as CEO and will take on the additional role of Private Equity Center of Excellence Leader for MMA, nationally. Partners Matt Lovein and Matt Hene will become co-Presidents of Ironwood.
David Eslick, CEO of MMA, commented: "The private equity, merger and acquisition space is a dynamic, fast growing market in our industry. We are proud to welcome Ironwood to MMA and expand our capabilities and resources under Will, Matt, and Matt’s leadership."
Peter Krause, President of MMA Southeast, said: "Ironwood’s vision for growth, dynamic culture, and commitment to client service make them a terrific fit for MMA’s growing national footprint. Will and his team have built a premier brokerage firm."
Mr. Underwood added: "We are thrilled to join MMA and to continue our commitment to client service, employee development, and community involvement. Our culture and track record of offering industry-leading solutions and services will thrive in an organization like MMA."