FRANCE - Consultant Buck Heissmann has further strengthened its presence in France by acquiring MODAC, a French actuarial and benefits consulting firm. Financial details were not disclosed.
Buck Heissman said as a result of the deal, MODAC's four consultants would be transferred to its office in Levallois near Paris.
Founded in 1990, MODAC provides actuarial and benefit consulting services, including training in actuarial-related topics and the development of actuarial modelling software.
The acquisition of MODAC comes almost a year after Buck Heissmann recruited Joel Royers from rival Hewitt Associates to head its Levallois office. Back then, the venture said it would hire four new consultants beyond Royers.
Said Alfred Gohdes, managing director at Buck Heissmann: "We are now able to provide both newly-acquired and multi-national clients with an enhanced range of services…With MODAC we can substantially build on our good reputation and position in the market."
Gohdes did not, however, say how many companies or pension funds Buck Heissmann is currently advising in France. "We are concentrating at the moment on building our benefits consulting business there," he said.
Finally, Gohdes told IPE from Wiesbaden that the MODAC acquisition would have no effect on Buck Heissmann's long-standing co-operation with French consultant Argos. That practice is headed by Claude Vala.
Buck Heissmann is a joint venture between German consultant Dr. Dr. Heissmann and Buck Consultants of the US. In Europe, it has offices in Wiesbaden, Brussels, Levallois, Dublin, Woerden, the Netherlands, Madrid and London.