Arthur J. Gallagher & Co. Acquires Acumen Advisors, Inc.

Rhea-AI Summary

Arthur J. Gallagher & Co. has acquired Acumen Advisors, Inc., a Cedar Rapids-based employee benefits consultant, expanding their offerings in the Midwest region. The terms of the acquisition were not disclosed. The team at Acumen will continue operations under Gallagher's Midwest region employee benefits consulting head, Tom Lannen.

Positive

• Acquisition of Acumen Advisors, Inc. will expand Arthur J. Gallagher & Co.'s employee benefits offerings in the region.

• Highly regarded firm Acumen Advisors, Inc. will enhance the services provided by Gallagher.

• Continued operations of Acumen under Gallagher's Midwest region employee benefits consulting head ensure a smooth transition and expertise retention.

Negative

• None.

News Market Reaction – AJG

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-0.53% Session move

In the trading session that priced this news, AJG declined 0.53%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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ROLLING MEADOWS, Ill., May 13, 2024 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced the acquisition of Cedar Rapids, Iowa-based Acumen Advisors, Inc. (Acumen). Terms of the transaction were not disclosed.

Acumen is an employee benefits consultant serving small and mid-size businesses throughout Iowa. Andrew Morf, Kirby Moss and their team will remain in their current locations under the direction of Tom Lannen, head of Gallagher's Midwest region employee benefits consulting operations.

"Acumen is a highly regarded firm that will expand our employee benefits offerings in the region," said J. Patrick Gallagher, Jr., Chairman and CEO. "I am delighted to welcome Andrew, Kirby and their associates to Gallagher."

Arthur J. Gallagher & Co. (NYSE:AJG), a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois. Gallagher provides these services in approximately 130 countries around the world through its owned operations and a network of correspondent brokers and consultants.

Investors: Ray Iardella, VP - Investor Relations         Media: Paul Day, Communications Manager
630-285-3661/ ray_iardella@ajg.com                         630-285-5946/ paul_day1@ajg.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/arthur-j-gallagher--co-acquires-acumen-advisors-inc-302141942.html

SOURCE Arthur J. Gallagher & Co.

FAQ

What did Arthur J. Gallagher & Co. acquire?

Arthur J. Gallagher & Co. acquired Acumen Advisors, Inc., a Cedar Rapids-based employee benefits consultant.

Where is Acumen Advisors, Inc. based?

Acumen Advisors, Inc. is based in Cedar Rapids, Iowa.

Who will continue operations under Gallagher for Acumen Advisors, Inc.?

Andrew Morf, Kirby Moss, and their team will continue operations under Tom Lannen, head of Gallagher's Midwest region employee benefits consulting operations.