In a move it says “dramatically accelerates its national growth,” Marsh & McClennan Agency has acquired Roanoke, Va.-based Thomas Rutherfoord Inc., one of the nation’s largest independently owned firms.

Neither MMA, a subsidiary of insurance broker Marsh Inc., or Rutherfoord disclosed terms of the transaction.

With 11 offices in states including Virginia, North Carolina and Georgia, Rutherfoord is the nation’s 32nd largest brokerage firm and the 14th largest independently owned firm, with annual revenue of $171 million, according to the company. Rutherfoord is a property-casualty insurance broker offering products including employee benefits and risk management.

David Eslick

MMA said in a statement that Rutherfoord brings “a dynamic sales culture, encouraging entrepreneurial innovation from its employees in meeting their clients’ needs, as well a financial performance which consistently ranks among the industry’s highest in organic growth and profitability.”

David L. Eslick, chairman and chief executive officer of MMA, called Rutherfoord “an outstanding organization” that is “regarded among its peers as one of the top insurance agencies in the country.

“Their focus on client relationships, orientation toward teamwork, quality of employees, discipline of financial performance, and market relationships all speak volumes about the integrity of the entire organization,” Eslick said in a statement. “They have a wealth of specialized expertise and capabilities and bring us a strong operation in the Southeast and mid-Atlantic region. That’s why we have designated Rutherfoord as our lead brokerage firm in the mid-Atlantic region and the District of Columbia.”

Rutherfoord’s chairman, Thomas D. Rutherfoord Jr., along with vice chairmen Thomas R. Brown and George A. “Shad” Steadman III, will continue to lead the regional business, according to MMA, and all of Rutherfoord’s 300 employees will remain with the firm and join the Marsh network.

The firm will also retain the Rutherfoord name, “for the foreseeable future,” according to MMA.

“Joining Marsh & McLennan Agency represents an exciting opportunity for all the members of our firm to build upon the strong foundation we have forged over the last 30 years. Our future is bright because this consolidation of talent and resources promises to become one of our industry’s preeminent national organizations,” said Thomas D. Rutherfoord Jr. “Together, we will offer greater resources and a broader platform to serve the emerging needs of our clients as they address the increasingly complex risks associated with operating in today’s dynamic business environment.”