Nov. 2, 2015, 6:54 PM
- Insurance brokerage and consultant services firm Arthur J. Gallagher & Co. (NYSE:AJG) has acquired Christie Phoenix and its affiliate Discovery Insurance Services, brokers in Victoria, British Columbia.
- Terms weren't disclosed. "Christie Phoenix and Discovery are just the type of client-focused new merger partners we hoped to attract when we created our platform for growth in Canada," says AJG Chairman and CEO J. Patrick Gallagher.
- Christie Phoenix provides commercial property/casualty and personal lines service in B.C., while younger firm Discovery operates across similar business classes. The two firms will operate in place under Ken Keenan, who leads Gallagher's Canadian operation.
May 19, 2014, 5:42 PM
- Arthur J. Gallagher (AJG) is paying C$422M ($387M) to buy 87% of Noraxis, a top-5 Canadian insurance broker. Management will hold onto the remaining 13%.
- Noraxis had 2013 revenue of C$125M, and has 650+ employees spread out over 23 offices. AJG forecasts Noraxis will have 2015 revenue of C$138M, and EBITDAC after synergies of C$52M. The deal is expected to close in July.
- CEO J. Patrick Gallagher: "Noraxis will be able to leverage our sales and service capabilities across Canada. In particular, our combined expertise in areas such as energy, construction and mining align well with the growth opportunities in the Canadian market."
- Previous: AJG acquires the U.K.'s Shilling Ltd.
Apr. 7, 2014, 4:09 AM
- Arthur J. Gallagher (AJG) has agreed to acquire the insurance-brokerage business of Australia's Wesfarmers for A$1.01B ($938M).
- The units earned A$331.1M ($306M) in revenue in 2013 and include operations in Australia, New Zealand and the U.K.
- Arthur J. Gallagher views the acquisition as "an important strategic step" to significantly expand its presence in Australasia.
- The deal adds to Arthur J. Gallagher's agreement last year to buy Giles Group of Companies for £237M ($393M) as it looked to grow in the U.K. (PR)
Aug. 26, 2013, 3:03 PM
- Acquisitive insurance brokerage Arthur J. Gallagher (AJG -0.6%) brings another shop into its fold, buying Canadian employee benefits broker Dickinson & Associates for undisclosed terms.
- Two weeks ago, Gallagher expanded its NJ and NY footprint with the purchase of the nation's 21st largest insurance broker, Bollinger, Inc. of Short Hills, NJ.
Mar. 14, 2012, 3:28 PM
Dec. 5, 2011, 3:28 PM
Dealogic tags Swisher Hygiene (SWSH) the most acquisitive U.S. public company, at 43 acquisitions so far this year with an announced deal value of $220M. Swisher may be a surprise, but the list of busy dealmakers includes some of the expected M&A suspects; following SWSH in the top eight: GOOG, INTC, GE, AJG, UTX, BRO, BX.| Dec. 5, 2011, 3:28 PM