US’s 21st largest broker targeted by acquisitive Gallagher
Arthur J Gallagher & Co has bought the 21st largest US broker, Bollinger.
Bollinger places more than $1bn of premium per year in areas including retail property, casualty and wholesale.
The firm has more than 500 staff operating out of eight offices in New Jersey, New York, Pennsylvania and Connecticut.
In a statement to investors, Gallagher said the acquisition would help expand Gallagher’s footprint in the north-eastern US, as well as bolster its mid-market abilities.
Gallagher chief executive, president and chairman J Patrick Gallagher said: “The Bollinger acquisition gives us a unique opportunity to significantly expand our north-eastern operating platform and market presence in three of our core businesses.
“Because Bollinger’s growth strategy, operating structure and sales culture are very similar to Gallagher’s, I’m confident that the integration will be extraordinarily successful.
“Most importantly, we will be able to offer additional and/or expanded sales and service capabilities to our clients through our combined resources.”
Bollinger chairman and chief executive Jack Windolf said: “We are excited about joining Gallagher, and confident that the combined sales and services resources will provide significant opportunities for our future growth together.”
Windolf will remain with the merged company and will lead the transition and integration process.