Marsh & McLennan Unit Buyout To Offer Better Client Services
Zacks Investment Research | Nov 20, 2018 09:54PM ET
Marsh & McLennan Companies, Inc.'s (NYSE:MMC) unit Mercer recently announced the completion of its purchase of Summit Strategies Group (Summit) on Nov 15, 2018. However, terms of the transaction are unknown.
With the consolidation of Summit’s enriched client service experience and Mercer’s top-notch investment capabilities, customers would be highly benefited from this deal. They would continue working with their current consulting team and also access Mercer’s resources.
Apart from its contract to acquire Summit, the unit announced owning certain operations of Pavilion Financial Corporation on Aug 13, 2018. The latter buyout is expected to close in the fourth quarter of 2018.
Strategic acquisitions have always been one of the core growth strategies at Marsh and McLennan. In the past, the parent company made numerous purchases to boost its portfolio, enter new geographies, expand within the existing businesses and foray into new ones. In recent months, the company bought Klein Agency and Insurance Associates, which helped fortifying its footprint in greater Washington DC region and enhance its construction capabilities.
The company also completed a buyout in Scotland, adding to its revenue base. Of late, it acquired Houston-based Wortham Insurance along with Eustis Insurance & Benefits, a leading independent insurance agency in Louisiana. Integration of Jardine Lloyd Thompson Group is also due and with its culmination, the company’s subsidiary Marsh would launch a specialty business.
Shares of this Zacks Rank #3 (Hold) company have gained 4.4% in a year’s time, underperforming its Zacks Investment Research
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