Harris Williams Advises Buck on its Sale to Arthur J. Gallagher & Co.

Rhea-AI Summary

Harris Williams has advised Buck, a company specializing in HR, pensions, and employee benefits, on its sale to Arthur J. Gallagher & Co. (NYSE: AJG). The deal is anticipated to enhance Gallagher's service offerings and accelerate growth, combining Buck's technology-driven solutions with Gallagher's broad insurance and consulting services. Buck, founded over a century ago, aims to improve employee well-being and organizational performance. H.I.G. Capital, Buck's parent company, manages $55 billion in equity capital. This acquisition reflects the growing demand for integrated employee benefit solutions in the marketplace.

Positive

• The acquisition of Buck by Gallagher is expected to enhance service offerings and accelerate growth.
• Buck has a strong reputation as an HR and employee benefits provider.
• The deal aligns with market demand for integrated employee benefit solutions.

Negative

• None.

RICHMOND, Va.--(BUSINESS WIRE)-- Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised Buck, a portfolio company of H.I.G. Capital (“H.I.G.”), on its sale to Arthur J. Gallagher & Co. (NYSE: AJG; “Gallagher”). Buck is a trusted HR, pensions, and employee benefits related consulting, administration services, and technology firm. The transaction was led by Derek Lewis, Bryce Walker, Maury Nolen and Michael Tuohey of the Harris Williams Business Services Group.

“We are thrilled to have represented Buck and believe the company is well-positioned to benefit from the growth in demand for employee benefit solutions,” said Derek Lewis, a managing director at Harris Williams. “Harris Williams has a track record of representing market-leading businesses, like Buck, that provide critical services across a diverse client base.”

“The combination of Buck and Gallagher brings together two best-in-class businesses, with stellar reputations in the industry and an exciting opportunity to accelerate growth across a wide array of services,” said Bryce Walker, a director at Harris Williams.

Buck is a trusted HR, pensions, and employee benefits related consulting, administration services, and technology firm. Founded more than 100 years ago as an actuarial consultancy, Buck has evolved to serve organizations and trustees across the health, wealth, and career spectrum. With the ultimate goal of securing the futures of its clients’ employees and members, Buck develops tech-enabled programs that engage individuals and drive organizational performance. Buck’s award-winning solutions and people-first approach empower the world’s most forward-thinking organizations to protect the physical and financial wellbeing of their employees and members and improve how their people work and live.

H.I.G. is a leading global private equity and alternative assets investment firm with $55 billion of equity capital under management. Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused / value-added approach. Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of $30 billion.

Gallagher, a global insurance brokerage, risk management, and consulting services firm, is headquartered in Rolling Meadows, Illinois. Gallagher provides these services in approximately 130 countries around the world through its owned operations and a network of correspondent brokers and consultants.

Harris Williams is a global investment bank specializing in M&A advisory services. Clients worldwide rely on us to help unlock value in their business and turn ambitious goals into reality. We approach every engagement with boundless collaboration, pooling expertise and relationships across industries and geographies to uncover the unique story of each company. For over 30 years, our clients have trusted us to think strategically, execute precisely, and deliver premium outcomes through M&A.

The business services landscape is fast-moving, dynamic, and diverse, and serves a rich variety of end markets. The Harris Williams Business Services Group, led by senior professionals with extensive industry experience, partners with investors and company leaders worldwide to help them navigate the M&A market. We have a longstanding track record of working with companies across sectors within the commercial and industrial services, specialty distribution, professional and tech-enabled services, and IT services segments.

Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230403005918/en/

For media inquiries, please contact Julia Moore at media@harriswilliams.com.

Source: Harris Williams

FAQ

What is the recent sale involving PNC and AJG?

Harris Williams advised Buck on its sale to Arthur J. Gallagher & Co. (NYSE: AJG).

What is Buck's business focus?

Buck specializes in HR, pensions, and employee benefits consulting and administration.

How much equity capital does H.I.G. Capital manage?

H.I.G. Capital manages $55 billion in equity capital.

What does the acquisition of Buck by Gallagher signify?

The acquisition signifies the growing demand for integrated employee benefit solutions in the market.