Gallagher Acquires Apollo Insurance Solutions, Extending M&A Streak
AJG sits 30% above its 52-week low of $190.75.
Summary
Arthur J. Gallagher & Co. has acquired Apollo Insurance Solutions Ltd., a digital insurance broker and managing general agency specializing in tenant insurance across Canada. This bolt-on acquisition extends Gallagher's aggressive M&A streak, following recent deals including McKee Risk Management, Twin Elms, Cincinnati Benefit Solutions, Wilson M. Beck, Med James, and W.N. Tuscano Agency. The company's Q2 results showed 24% revenue growth, partly driven by M&A, and this latest deal reinforces that trajectory. Terms of the transaction were not disclosed.
At the time of this announcement, AJG was trading at $248.10 on NYSE in the Finance sector, with a market capitalization of approximately $63.7B. The 52-week trading range was $190.75 to $313.55. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.