Arthur J. Gallagher & Co. Acquires Remaining Shares in Hesse & Partner AG and Hesse Consulting GmbH

Rhea-AI Summary

Arthur J. Gallagher announced the acquisition of the remaining shares of Hesse & Partner AG and Hesse Consulting GmbH from founder Guido Hesse, having previously acquired a majority stake three years ago. The terms of the transaction remain undisclosed. Founded in 1997, Hesse & Partner specializes in risk management and insurance solutions, particularly in the waste-to-energy sector. The move is part of Gallagher's strategy to expand its presence in Europe, with CEO J. Patrick Gallagher, Jr. noting the alignment of visions and goals between the two companies.

Positive

• Full acquisition of Hesse & Partner supports Gallagher's expansion in Europe.
• Increased expertise in risk management in the waste-to-energy sector.
• Hesse & Partner's team shares Gallagher's client focus and entrepreneurial spirit.

Negative

• None.

ROLLING MEADOWS, III., June 15, 2021 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced that it has acquired the remaining shares of Zurich, Switzerland-based Hesse & Partner AG and Hesse Consulting GmbH from founder, Guido Hesse. Gallagher entered a partnership with Hesse and Partner three years ago when it acquired a majority interest of the business. Terms of the transaction were not disclosed.

Founded in 1997, Hesse and Partner develops risk management and insurance solutions for companies of all sizes in the industrial and service provider sectors, with particular expertise in the growing waste-to-energy sector. Founder Guido Hesse will become Chairman and Stephan Bachmann, previously Head of International Clients and Property Insurance, will lead the operations going forward.

"Bringing this business fully into Gallagher is another important step as we expand our footprint in Europe," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "The team shares our vision, client focus and entrepreneurial spirit, so this is great news for both our clients and employees."

Arthur J. Gallagher & Co. (NYSE:AJG), 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 does the acquisition of Hesse & Partner mean for AJG investors?

The acquisition strengthens AJG's market position in Europe and enhances its service offerings, potentially leading to increased revenue.

When did Arthur J. Gallagher acquire Hesse & Partner?

Arthur J. Gallagher acquired Hesse & Partner AG and Hesse Consulting GmbH on June 15, 2021.

What is the significance of Hesse & Partner in the acquisition?

Hesse & Partner specializes in risk management and insurance solutions, particularly within the growing waste-to-energy sector, adding valuable expertise to Gallagher.

Who will lead Hesse & Partner after the acquisition?

Stephan Bachmann, previously Head of International Clients and Property Insurance, will lead Hesse & Partner operations post-acquisition.

Did Arthur J. Gallagher disclose the terms of the acquisition?

No, the terms of the transaction for the acquisition of Hesse & Partner were not disclosed.