Arthur J. Gallagher Completes $13.45bn AssuredPartners Acquisition
Arthur J. Gallagher & Co. has completed its largest acquisition to date, purchasing AssuredPartners for $13.45bn. Chairman and CEO J. Patrick Gallagher, Jr. expressed excitement about the deal, which is expected to provide clients with the best insurance and risk management solutions.
The acquisition, announced in December 2022, was funded using net proceeds from equity and debt financing transactions. AssuredPartners, which provides services across commercial property/casualty (P&C), specialty, employee benefits, and personal lines, is expected to bring significant financial benefits. These include projections of double-digit adjusted earnings per share accretion and new business opportunities through the integration of Gallagher's expertise, data, analytics, and product offerings.
The deal is set to expand Gallagher's retail middle-market P&C and employee benefits presence across the US and strengthen its UK and Ireland presence. It also aims to enhance Gallagher's capabilities in various niche practice groups, including transportation, energy, healthcare, government contractors, and public entity sectors. This acquisition follows Gallagher's purchase of Woodruff Sawyer in March 2023 for $1.2bn.
The completion of this acquisition marks a significant milestone in Gallagher's history, with the company now poised to expand its operations in the USA, UK, and Ireland. The integration of AssuredPartners is expected to bring substantial financial benefits and enhanced capabilities in various niche practice groups.
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