Marsh Inc. announced the signing of a definitive agreement to sell Crump Group Inc., its U.S.-based wholesale broking operation, to an affiliate of J.C. Flowers & Co. LLC, a New York-based private equity firm.
Banc of America Securities LLC acted as financial advisor to Marsh, and Lazard acted as financial advisor to J.C. Flowers & Co. The consummation of the transaction is subject to normal and customary closing conditions.
Marsh has nearly 30,000 employees and annual revenues exceeding $5 billion.
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