Arthur J. Gallagher & Co. Acquires Mutual Brokers Pty Ltd

Rhea-AI Summary

Arthur J. Gallagher & Co. (NYSE: AJG) announced the acquisition of Canberra-based Mutual Brokers Pty Ltd on May 3, 2021. This strategic move aims to enhance Gallagher's presence in the Canberra market and expand client offerings. Mutual Brokers, established in 1985, focuses on commercial and small corporate clients. The existing ownership team will transition to Gallagher's Canberra branch under Mark Saunderson's leadership. This acquisition aligns with Gallagher's growth strategy and strengthens its operational capabilities in Australia.

Positive

• Acquisition enhances Gallagher's presence in the Canberra market.
• Expansion of client capabilities and services offered.
• Mutual Brokers is a culturally aligned, growing business.

Negative

• None.

ROLLING MEADOWS, Ill., May 3, 2021 /PRNewswire/ -- Arthur J. Gallagher & Co. (NYSE: AJG) today announced the acquisition of Canberra, Australian Capital Territory (ACT)-based Mutual Brokers Pty Ltd. Terms of the transaction were not disclosed.

Founded in 1985, Mutual Brokers is an independent broker serving a broad cross-section of commercial and small corporate clients in Canberra and the ACT. Owners Lou Pennetta and Adrian Dodd, and their team, will come under the direction of Head of Metro Branches Mark Saunderson and will relocate to join the Gallagher Canberra branch later in the year.

"Mutual Brokers is a growing, culturally aligned business that doubles our presence and expands our client capabilities in the key Canberra market," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "I am very pleased to welcome Lou, Adrian and their associates to our growing global team."

Arthur J. Gallagher & Co., a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois. The company has operations in 56 countries and offers client-service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants.

Investors:  Ray Iardella	Media:  Linda J. Collins
VP – Investor Relations	VP – Corporate Communications
630-285-3661/ ray_iardella@ajg.com	630-285-4009/ linda_collins@ajg.com

 

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SOURCE Arthur J. Gallagher & Co.

FAQ

What is the purpose of Arthur J. Gallagher's acquisition of Mutual Brokers Pty Ltd?

The acquisition aims to enhance Gallagher's presence and expand client capabilities in the Canberra market.

When was the acquisition of Mutual Brokers announced?

The acquisition was announced on May 3, 2021.

What is the significance of Mutual Brokers in the acquisition?

Mutual Brokers is a growing business that serves commercial and small corporate clients in Canberra, aligning with Gallagher's strategic goals.

Who will manage Mutual Brokers after the acquisition?

The current owners Lou Pennetta and Adrian Dodd will join Gallagher's Canberra branch under Mark Saunderson's leadership.

How does the acquisition impact Gallagher's operations?

The acquisition doubles Gallagher's presence in Canberra and strengthens its operational capabilities in the region.