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Marsh Agency completes Accel Holdings acquisition
The deal brings more than 130 Accel employees across seven offices into Marsh Agency’s Upper Midwest region, expanding its Iowa presence and adding agribusiness expertise.
Marsh Agency has completed its acquisition of Accel Holdings, the parent of Iowa independent broker The Accel Group, folding Accel into Marsh Agency’s US middle-market brokerage, Insurance Business reports.
All Accel staff have joined Marsh Agency’s Upper Midwest region while continuing to work from their current offices. When the deal was announced in August, Accel had more than 130 employees across seven offices in Iowa, Illinois, Missouri and Kansas.
Accel, based in Waverly, provides commercial and personal insurance, employee benefits and agribusiness coverage, along with wealth management and retirement advisory services. The firm traces its roots to 1936 and expanded through a 2018 merger with Millhiser Smith Agency, founded in 1928.
Marsh said the transaction strengthens its presence in Iowa, adds retirement and wealth capabilities, and increases its agribusiness knowledge. Marsh also said agriculture is becoming a clearer theme in its buy-side activity.