Boston Benefit Partners (BPP), an all-women led health and welfare consulting and brokerage firm, announced that it officially has joined the Alera Group. Based in Boston, BPP was founded in 1998 by Carol Chandor, Piper McNealy and Kathryn Tolan, who also currently lead the firm. Over the past two decades, they have grown BPP by creating a unique “white-glove service model and data-driven approach to strategy and problem solving” for their clients. In addition to its successful client-centric approach, BPP also has distinguished itself as being certified as a women-owned business through the Women’s Business Enterprise National Council (WBENC), the nation’s largest third-party certifier of businesses owned and operated by women.
In commenting on the sale of their agency, Carol Chandor, Managing Director and Chief Executive Officer of BBP highlighted the enhanced services that will be available to their clients as part of Alera Group.
“We continuously adapt to the needs of our clients by developing strategic solutions that address the unique challenges they face…Our diverse client portfolio and long-term consulting relationships are a testament to the depth and breadth of our expertise and resources. Joining Alera Group will provide our clients with more resources and give our valued employees opportunities to collaborate with other accomplished Alera Group firms across the country.”
According to the terms of the transaction, BBP leadership, as well as all their employees, will continue on in their same roles after the completion of the merger. No further terms of the transaction were announced.
“Boston Benefit Partners provides clients with data-driven technical expertise and strategic, creative solutions,” said Alan Levitz, CEO of Alera Group. “The client-oriented mission of Boston Benefit Partners aligns with Alera Group’s mission of transforming the client experience, making them a great addition to our team. We are thrilled to continue to expand our footprint and service capabilities in Massachusetts and look forward to the positive impact our collaborative culture will drive for our clients.”
Alera’s third Massachusetts agency acquisition since 2020
With more than $600 million in annual revenue, the Alera Group is one of the top insurance brokers in the U.S., as well as one of the top 10 most active agency acquirers. It also has more than 2,000 professionals located in over 100 office locations throughout the country.
While Alera does not have a major presence in Massachusetts, with the addition of BBP, the firm now has seven locations throughout the Commonwealth. In 2020, the company also made two strategic acquisitions with its acquisition of the Syliva Group in January 2020 and Gordon Atlantic in October 2020.