Arthur J. Gallagher To Buy William Gallagher Associates

(RTTNews) - Arthur J. Gallagher & Co. (AJG) said Monday that it has agreed to buy substantially all the assets of William Gallagher Associates Insurance Brokers, Inc., headquartered in Boston, Massachusetts, which has annualized revenues of about $50 million.

The deal is expected to close in the third quarter of 2015. Additional terms were not disclosed.

Founded in 1983, William Gallagher Associates provides commercial retail property/casualty and employee benefits insurance brokerage and consulting services to middle-market and large, fast-growth clients with complex insurance needs.

Philip Edmundson, Patrick Veale and their associates will operate from their current Boston; Atlanta; New York City; Columbia, Maryland; Hartford, Connecticut and Princeton, New Jersey locations under the direction of Douglas Brown, head of Gallagher's Northeastern retail property/casualty brokerage operations, and David Ziegler, head of Gallagher's Eastern employee benefit consulting and brokerage operations.