Arthur J. Gallagher and William Gallagher Associates are both nationally-known insurance brokerage firms
International brokerage firm, Arthur J. Gallagher & Co., has acquired Boston’s William Gallagher Associates (“WGA”). The Illinois-based international insurance brokerage and risk management firm has operations in 30 countries while offering client-service capabilities in over 140 countries via its network of correspondent brokers and consultants.
According the announcement made last week, the Illinois brokerage firm has signed a “definitive agreement” to acquire the entire assets of WGA. No further details on the transaction were made public except that the deal is expected to close during the third quarter of 2015.
Commenting on the transaction, Arthur J. Gallagher’s President and CEO J. Patrick Gallagher, Jr. noted the similarities between both firms which will streamline the merger between the two firms.
The WGA acquisition gives us a wonderful opportunity to significantly expand our operating platform in the Eastern U.S. and market presence in two of our core businesses. Their growth strategy, operating structure and sales culture are all very similar to ours, which should make for a successful integration process,” he noted. “With our combined resources, we will also be able to offer additional and expanded sales and service capabilities to our P/C and benefits clients. We are extremely pleased to welcome Phil, Pat and their colleagues to our growing Gallagher family of professionals.”
Founded in 1983, William Gallagher Associates is a commercial retail property/casualty and employee benefits insurance brokerage firm. With annualized revenues of $50 million, WGA services a variety of complex insurance needs to its middle-market and large, fast-growth clients. For the Boston brokerage firm, joining Arthur J. Gallagher is a way in which to bring a more international reach to its clients.
“Joining Arthur J. Gallagher & Co. brings new resources and global reach to our clients,” said Philip Edmundson, Chairman and CEO of William Gallagher Associates. “Their great reputation for integrity, growth, and being one of the best places to work in this or any industry leaves me and my colleagues excited about this merger.”
