Gallagher Adds Albany Insurance Services to Acquisition Spree
AJG sits 20% above its 52-week low of $190.75.
Summary
Gallagher continues its aggressive acquisition strategy with the purchase of Albany Insurance Services Limited. This is the sixth acquisition reported in the last three months, following Wilson M. Beck, Med James, W.N. Tuscano, Apollo Insurance Solutions, and Innovise Business Consultants. The company's Q2 revenue grew 24% to $4.0 billion, driven by these tuck-in deals. No financial terms were disclosed, but the pattern reinforces management's commitment to inorganic growth. The market has rewarded this strategy, with shares near $228.
At the time of this announcement, AJG was trading at $228.11 on NYSE in the Finance sector, with a market capitalization of approximately $58.5B. The 52-week trading range was $190.75 to $313.55. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.