Arthur J. Gallagher & Co. Signs Agreement to Acquire The Bollington Wilson Group
Arthur J. Gallagher & Co. has announced an agreement to acquire 100% of the UK specialist insurance broker, The Bollington Wilson Group.
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Rhea-AI Summary
Arthur J. Gallagher & Co. has announced an agreement to acquire 100% of the UK specialist insurance broker, The Bollington Wilson Group. Founded in 1973, Bollington has grown significantly, now employing over 400 people across multiple locations. The acquisition aims to enhance Gallagher's UK Retail Division, leveraging Bollington's strong market presence and complementary business capabilities. Gallagher's CEO emphasized the cultural alignment and entrepreneurial spirit shared by both firms. The transaction awaits regulatory approval before finalization.
Positive
- Strategic acquisition of The Bollington Wilson Group enhances Gallagher's UK Retail Division.
- Bollington's strong market presence and capabilities complement Gallagher's existing business lines.
- The acquisition aligns with Gallagher's growth strategy of organic expansion and acquisitions.
Negative
- None.
Details
News Market Reaction – AJG
The recorded move for AJG in the trading session of this news was +0.07%.
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AI-generated analysis. How Rhea-AI works. Not financial advice.
ROLLING MEADOWS, Ill, Jan. 12, 2021 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced that it has signed an agreement to acquire
Founded in 1973 as a local community broker, Bollington has since grown organically and through strategic acquisitions into a highly successful specialist UK insurance broker with more than 400 employees. Headquartered in Sale, Bollington also operates from offices in Liverpool, Bollington, Harrogate, Sutton Coldfield, Stafford and Bolton. It has well-established divisions in SME, micro-SME and personal lines. The business will become part of Gallagher's UK Retail Division, and Paul Moors, Group CEO, will remain with Gallagher as Chairman of Bollington.
"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," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "We look forward to welcoming the team to our growing, global company."
Michael Rea, CEO of Gallagher's UK Retail Division, added: "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. (NYSE:AJG), a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois. The company 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.
Investors: Ray Iardella Media: Linda J. Collins
VP – Investor Relations VP – Corporate Communications
630-285-3661/ ray_iardella@ajg.com 630-285-4009/ linda_collins@ajg.com
UK media contact:
Emma Banks, External Communications, Gallagher
+44 (0) 7894 158 605 emma_banks@ajg.com
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SOURCE Arthur J. Gallagher & Co.
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