Arthur J. Gallagher & Co. - AJG STOCK NEWS

Arthur J. Gallagher & Co. (NYSE:AJG) has announced the acquisition of DMc Insurance Partners, an Austin, Texas-based personal lines insurance agency. The acquired company serves individuals and small business owners in Austin. John McNulty, Scott Durkin, and their team will continue operations from their current location under Gino Bonacci, head of personal lines for Gallagher's U.S. retail property/casualty brokerage operations.

The acquisition aims to strengthen Gallagher's personal lines and small business capabilities in the Austin market. Financial terms of the transaction were not disclosed.

Arthur J. Gallagher & Co. (NYSE:AJG) has announced the acquisition of M.J. Schuetz Insurance Services Inc., an Indianapolis-based insurance provider. Schuetz Insurance specializes in property/casualty, surety and bonding services across the Midwest, with particular expertise in construction, landscaping, manufacturing and real estate sectors.

The Schuetz Insurance team, including Dave Linthicum, Mike Cocoran, Jenni Waggoner, Stella Milli, and Pamela Kreeb, will maintain their current location under Sean Gallagher's leadership, who heads Gallagher's Great Lakes region retail property/casualty brokerage operations. Financial terms of the transaction were not disclosed.

Arthur J. Gallagher (NYSE: AJG) has completed its public offering of 30,357,143 shares of common stock at $280.00 per share. The company granted underwriters a 30-day option to purchase up to an additional 4,553,571 shares at the same price. Morgan Stanley & Co. led the offering as lead active book-running manager, with BofA Securities as active book-running manager. The offering was made through an automatically effective shelf registration statement on Form S-3. The company also announced the cancellation of its investor meeting previously scheduled for December 17th.

Arthur J. Gallagher & Co. (NYSE: AJG) has announced the acquisition of Sheila J. Butler & Company (SJB), a Carrollton, Georgia-based employee benefits brokerage firm. The acquired company serves clients of all sizes in western Georgia, including the greater Atlanta area.

Following the acquisition, SJB's team, including Sheila J. Butler and Blake Butler, will continue operations from their current location under Colby Paxton's leadership, who heads Gallagher's Southeast region employee benefits consulting operations. The financial terms of the transaction were not disclosed.

According to Chairman and CEO J. Patrick Gallagher, Jr., SJB's reputation for client service will enhance Gallagher's existing benefits consulting capabilities and presence in Georgia. AJG currently operates in approximately 130 countries, providing insurance brokerage, risk management, and consulting services globally.

Arthur J. Gallagher (NYSE: AJG) has announced the pricing of $8.5 billion of common stock shares at $280.00 per share. The company granted underwriters a 30-day option to purchase up to an additional 4,553,571 shares at the same price. The offering, expected to close on December 11, 2024, is led by Morgan Stanley & Co. as lead active book-running manager and BofA Securities as active book-running manager.

The net proceeds will fund part of the cash consideration for Gallagher's proposed acquisition of AssuredPartners. Any remaining proceeds, or if the transaction isn't completed, will be used for general corporate purposes including other acquisitions. The offering is not conditioned on the AssuredPartners acquisition closing.

GTCR has announced the sale of AssuredPartners to Arthur J. Gallagher & Co. (NYSE: AJG) for $13.45 billion in an all-cash transaction, marking the largest sale of a U.S. insurance broker to a strategic acquiror. AssuredPartners, the 11th largest insurance broker in the U.S., employs 10,900 professionals across North America and the U.K., providing risk management solutions including property and casualty and employee benefits insurance brokerage services.

Founded in 2011 through GTCR's Leaders Strategy™ partnership with Jim Henderson, AssuredPartners has acquired and integrated over 500 businesses over 13 years. The transaction is expected to close in Q1 2025, subject to regulatory approvals and customary closing conditions.

Arthur J. Gallagher & Co. (AJG) has agreed to acquire Apax Partners' minority stake in AssuredPartners in a $13.45 billion all-cash transaction. AssuredPartners, founded in 2011, is one of the largest insurance brokers in the United States, operating through approximately 400 offices across the U.S., UK, and Ireland with 10,900 employees.

During Apax Funds' nine-year ownership, AssuredPartners completed around 400 acquisitions, including Keenan & Associates, while investing in operational improvements such as technology, salesforce, and infrastructure capabilities. The transaction is expected to close in the first quarter of 2025, subject to regulatory approvals.

Arthur J. Gallagher & Co. (NYSE: AJG) has announced an $8.5 billion underwritten public offering of common stock, with an additional 30-day option for underwriters to purchase $1.275 billion in shares. Morgan Stanley & Co. and BofA Securities, Inc. are serving as lead and active book-running managers respectively.

The proceeds will primarily fund the previously announced acquisition of Dolphin TopCo, Inc., the holding company of AssuredPartners, Inc. Any remaining funds will be used for general corporate purposes and other acquisitions. The company plans to supplement the offering proceeds with available cash and credit facility borrowings to complete the transaction.

The offering is being made through an effective shelf registration statement and is not contingent on the acquisition's completion.

Arthur J. Gallagher & Co. (NYSE:AJG) has signed a definitive agreement to acquire AssuredPartners for $13.45 billion gross consideration. The acquisition, expected to close in Q1 2025, will add 10,900 employees and approximately 400 offices across the U.S., U.K., and Ireland.

AssuredPartners reported pro forma revenues of $2.9 billion and EBITDAC of $938 million for the trailing 12 months ended September 30, 2024. The transaction represents a 14.3x EBITDAC multiple, reducing to 11.3x after considering a $1.0 billion deferred tax asset and synergies. Gallagher expects synergies of $160 million and integration costs of $500 million over 3 years, with the acquisition projected to be 10-12% accretive to adjusted GAAP EPS.