Gallagher Adds UK Law Firm Winter & Co to Acquisition Spree
AJG sits 19% above its 52-week low of $190.75.
Summary
Arthur J. Gallagher acquired Winter & Co Solicitors LLP, a specialist maritime law firm serving P&I clubs, marine insurers, shipowners, and charterers, continuing its aggressive acquisition strategy. Glenn Winter will remain in his current location under the direction of Manan Sagar, head of Gallagher Bassett's Europe, Middle East, Asia operations. This is the sixth acquisition reported in the past three months, following Med James, W.N. Tuscano, Apollo Insurance Solutions, Innovise Business Consultants, and Albany Insurance Services. The deal expands Gallagher's legal services capabilities in the UK, complementing its insurance brokerage operations. No financial terms were disclosed, but the pattern of frequent, small-to-mid-sized acquisitions is a core growth driver for the company. Q2 revenue grew 24% to $4.0 billion, fueled by acquisitions and organic expansion.
At the time of this announcement, AJG was trading at $227.24 on NYSE in the Finance sector, with a market capitalization of approximately $58.2B. 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.