Arthur J. Gallagher & Co Stock Price, News & Analysis

Arthur J. Gallagher & Co. (NYSE: AJG) has announced the acquisition of Sheila J. Butler & Company (SJB), a Carrollton, Georgia-based employee benefits brokerage firm. The acquired company serves clients of all sizes in western Georgia, including the greater Atlanta area.

Following the acquisition, SJB's team, including Sheila J. Butler and Blake Butler, will continue operations from their current location under Colby Paxton's leadership, who heads Gallagher's Southeast region employee benefits consulting operations. The financial terms of the transaction were not disclosed.

According to Chairman and CEO J. Patrick Gallagher, Jr., SJB's reputation for client service will enhance Gallagher's existing benefits consulting capabilities and presence in Georgia. AJG currently operates in approximately 130 countries, providing insurance brokerage, risk management, and consulting services globally.

Arthur J. Gallagher (NYSE: AJG) has announced the pricing of $8.5 billion of common stock shares at $280.00 per share. The company granted underwriters a 30-day option to purchase up to an additional 4,553,571 shares at the same price. The offering, expected to close on December 11, 2024, is led by Morgan Stanley & Co. as lead active book-running manager and BofA Securities as active book-running manager.

The net proceeds will fund part of the cash consideration for Gallagher's proposed acquisition of AssuredPartners. Any remaining proceeds, or if the transaction isn't completed, will be used for general corporate purposes including other acquisitions. The offering is not conditioned on the AssuredPartners acquisition closing.

GTCR has announced the sale of AssuredPartners to Arthur J. Gallagher & Co. (NYSE: AJG) for $13.45 billion in an all-cash transaction, marking the largest sale of a U.S. insurance broker to a strategic acquiror. AssuredPartners, the 11th largest insurance broker in the U.S., employs 10,900 professionals across North America and the U.K., providing risk management solutions including property and casualty and employee benefits insurance brokerage services.

Founded in 2011 through GTCR's Leaders Strategy™ partnership with Jim Henderson, AssuredPartners has acquired and integrated over 500 businesses over 13 years. The transaction is expected to close in Q1 2025, subject to regulatory approvals and customary closing conditions.

Arthur J. Gallagher & Co. (AJG) has agreed to acquire Apax Partners' minority stake in AssuredPartners in a $13.45 billion all-cash transaction. AssuredPartners, founded in 2011, is one of the largest insurance brokers in the United States, operating through approximately 400 offices across the U.S., UK, and Ireland with 10,900 employees.

During Apax Funds' nine-year ownership, AssuredPartners completed around 400 acquisitions, including Keenan & Associates, while investing in operational improvements such as technology, salesforce, and infrastructure capabilities. The transaction is expected to close in the first quarter of 2025, subject to regulatory approvals.

Arthur J. Gallagher & Co. (NYSE: AJG) has announced an $8.5 billion underwritten public offering of common stock, with an additional 30-day option for underwriters to purchase $1.275 billion in shares. Morgan Stanley & Co. and BofA Securities, Inc. are serving as lead and active book-running managers respectively.

The proceeds will primarily fund the previously announced acquisition of Dolphin TopCo, Inc., the holding company of AssuredPartners, Inc. Any remaining funds will be used for general corporate purposes and other acquisitions. The company plans to supplement the offering proceeds with available cash and credit facility borrowings to complete the transaction.

The offering is being made through an effective shelf registration statement and is not contingent on the acquisition's completion.

Arthur J. Gallagher & Co. (NYSE:AJG) has signed a definitive agreement to acquire AssuredPartners for $13.45 billion gross consideration. The acquisition, expected to close in Q1 2025, will add 10,900 employees and approximately 400 offices across the U.S., U.K., and Ireland.

AssuredPartners reported pro forma revenues of $2.9 billion and EBITDAC of $938 million for the trailing 12 months ended September 30, 2024. The transaction represents a 14.3x EBITDAC multiple, reducing to 11.3x after considering a $1.0 billion deferred tax asset and synergies. Gallagher expects synergies of $160 million and integration costs of $500 million over 3 years, with the acquisition projected to be 10-12% accretive to adjusted GAAP EPS.

Arthur J. Gallagher & Co. (NYSE:AJG) has announced the acquisition of Dawson & Keenan Insurance , a retail insurance brokerage based in Sault Ste. Marie, Ontario. The acquired company serves personal and commercial lines clients in Northern Ontario. Larry Day and his team will continue operations from their current location, reporting to Dave Partington, who leads Gallagher's Canadian retail property/casualty brokerage operations.

The acquisition aims to strengthen Gallagher's presence in the Canadian market, leveraging Dawson & Keenan's established regional reputation. Gallagher, headquartered in Rolling Meadows, Illinois, operates in approximately 130 countries, providing insurance brokerage, risk management, and consulting services globally.

Arthur J. Gallagher & Co. (NYSE:AJG) announces an investor meeting scheduled for December 17th, 2024, in New York City from 8:00 am to 12:00 pm ET. The meeting will feature presentations from company leaders on business operations and financial outlook, including a Q&A session with in-person attendees.

A live audio webcast will be available on the company's website, with replay access through December 24, 2024. Meeting materials will be posted at www.ajg.com/December17materials at 7:45 am ET on December 17th. The global insurance brokerage and risk management firm operates in approximately 130 countries through owned operations and correspondent networks.

Arthur J. Gallagher & Co. (NYSE:AJG) has acquired Hann Insurance Brokers Pty , located in Lambton, New South Wales. Hann Insurance Brokers specializes in property/casualty insurance services for commercial clients across Australia, with particular expertise in the transport sector. The acquisition team will join Gallagher's Newcastle office under Sarah Lyons, who heads retail property/casualty brokerage operations for Gallagher in Australia and Asia. The financial terms of the transaction were not disclosed.