Marsh McLennan Agency (MMA), the middle-market segment of Marsh McLennan, has announced that it has entered into an agreement to acquire Accel Holdings Inc. an independent agency based out of Cedar Rapids, Iowa that will Really add to MMA’s Midwest presence. Acceler Holdings Group, Inc. was established in 2010 and employs roughly 140 professionals led by CEO Tim Lytle. It gives mid-sized businesses and individuals with property and casualty insurance, employee benefits, and personal lines insurance in Iowa, Illinois, and Wisconsin. Under the terms of the acquisition, the employees, including Lytle will be integrated under MMA, where MMA’s Midwest reach and its technology resources and network will support its current operations.
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Contextualizing the strategic fit and cultural alignment of the regional expansion, Tim Lytle, CEO of Accel Holdings Inc., stated: “Joining Marsh McLennan Agency is a natural next step for our team, clients, and community. MMA shares our core values of customer service, operational excellence, and deep commitment to local communities. By combining Accel’s regional presence and relationships with MMA’s broad capabilities, specialized expertise, and national scale, we will be able to offer our clients an even greater array of solutions, resources, and innovation to help them manage risk and empower their employees.” At the close of the acquisition, subject to normal closing requirements and approvals, the deal will enhance MMA’s dedication to growth via both organic and acquisition methods as well as enhance their middle market insurance brokerage and risk management offerings in the Midwest region.
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