US-based global insurance brokerage and risk management services firm Arthur J. Gallagher & Co. Inc. has agreed to acquire United Kingdom-based specialty brokerage The Bollington Wilson Group Ltd., Gallagher said in a statement.
The transaction will close following regulatory approval. The financial details of the deal were not disclosed.
Since the beginning in 1973 as a local community broker, Bollington has grown into one of the UK’s largest independent brokerages with more than 400 employees. Headquartered in Sale, England, Bollington also has offices in Liverpool, Bollington, Harrogate, Sutton, Coldfield, Stafford, and Bolton.
According to its website, the Group places more than £130 million ($177 million) annual gross written premium.
According to the statement by Gallagher, Bollinger specializes in small and medium-sized enterprises, micro-small and medium-sized enterprises, and personal lines business and it will become part of Gallagher’s UK retail division, and Paul Moors Group CEO will remain with Gallagher as chairman of Bollington.
J. Patrick Gallagher Jr., chairman, president, and CEO commented, “Bollington will be a fantastic addition to Gallagher. Its entrepreneurial spirit and exceptional track record of growth, both organic and through acquisitions, demonstrates a strategy and culture similar to our own, something that is highly important to us when making acquisitions. We look forward to welcoming the team to our growing, global company.”
Michael Rea, CEO of Gallagher’s UK Retail Division, said in the statement, “Bollington is hugely respected. This thriving business has strong capability and an impressive portfolio of specialisms that are complementary to our existing business lines, and will provide us with additional scale in the regional commercial broking sector.”
Arthur J. Gallagher & Co. has operations in 49 countries and offers client service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants.