The transaction, which should close on or about August 31, is expected to strengthen Mercer’s local health and benefits distribution capabilities, as well as leverage Mercer’s national product and advisory position, according to a news release.
The acquisition will also make Mercer the largest health and benefits broker in the Miami/Ft. Lauderdale brokerage market, and expand the firm’s Defined Contribution (DC) Advisors capabilities. Mercer’s DC Advisors provides consulting, advisory and brokerage services for small to medium-sized DC retirement plans.
“The Mahoney firm is highly regarded as a significant leader in one of the most attractive markets in the US, and has well-established relationships with mid- and large-sized employers in Florida and across the US,” said David P. Rahill, US Region Leader for Mercer health and benefits business, in the announcement. “We believe this will be a highly attractive service proposition for the clients we now jointly serve, and will be the basis for attracting significant numbers of new employers.”