The company has acquired the New England Employee Benefits Company
Alera Group, one of the country’s top ten agency acquirers, has announced another acquisition in our region. The company announced that it has welcomed the New England Employee Benefits Company (NEEBCo), of Concord, New Hampshire. Founded in 1988, NEEBCo has grown over the past three decades into a niche agency with extensive experience, technology, analytics and unique funding options to deliver cost-effective employee benefits solutions for employers throughout New Hampshire, New England and the U.S.
“NEEBCo takes a progressive approach to supporting the ever-changing benefits landscape by designing plans that are current, appropriate and cost-effective. We pride ourselves on taking a tailored and personalized approach with every client,” said Brett Houston, NEEBCo Principal & President of Operations. “Alera Group’s national presence and strategic acquisitions means we can offer even more resources to our long-standing and highly-regarded customer base. Joining Alera Group allows us to continue our presence and growth in the employee benefits marketplace, provide stability for our employees and to be of service to our clients for years to come.”
“NEEBCo has been a trusted establishment in the employee benefits and insurance industry since 1988,” said Alan Levitz, CEO of Alera Group. “As a results-driven industry leader, NEEBCo is a great fit for Alera Group, offering long-term benefit strategies, inventive technology-based solutions, compliance management and wellness programs for clients nationwide.”
According to the terms of the transaction, NEEBCo and its team will continue in the same positions and office location upon completion of the merger. No further terms of the transaction were not disclosed.
Alera’s increasing presence in the New England marketplace
Approximately three years ago, many in the Massachusetts and New England insurance industry knew little about Alera Group. Based in Deerfield, IL, the independent, national insurance and wealth management firm has more than $600 million in annual revenue, and more than 2,500 employees in its 100-plus office locations. It also has been a top ten agency buyer nationally, with it announcing 18 deals in the first half of 2021 alone.
All that changed, however, with the company’s agency acquisition of the well-known independent insurance agency, GordonAtlantic, in October 2020. Since then, the company has been growing its presence consistently here in the region with these additional agency acquisitions:
- Alera Group Acquires Massachusetts’ Sylvia Group in January of 2020
- Women-Led Boston Benefit Partners, LLC Joins Alera Group in June of 2021
- Alera Group Acquires Cafeteria Plan Advisors, Inc.
