AssuredPartners
-
The executive will officially start in mid-November. -
The deal’s benefits headlined AJG’s investor day presentation.
-
The completion is also good news for Marsh, Aon, WTW and other potential buyers in US retail.
-
The broker approved a grant of $316mn in equity awards payable in staggered amounts over the coming five years.
-
AJ Gallagher has responded to a request for additional information under the HSR filing.
-
The merger is on track to close in H2 2025, CEO Pat Gallagher said.
-
The hires form part of WTW’s build-out of its US aviation practice.
-
Gallagher already has HSR approval for the $1.2bn Woodruff Sawyer acquisition.
-
The company said it now expects the transaction to close in H2 2025.
-
AJ Gallagher expects to complete the $13.5bn acquisition of AssuredPartners in Q1.
-
The appointment comes a month after AP’s $13.5bn sale to Gallagher.
-
Insight into the current state of the insurance M&A market, powered by the Insurance Insider US M&A Deal Tracker.
-
The deal is financially attractive, but risks diluting the jewel that is Gallagher’s US mid-market business.
-
The executive said the combined entity could execute 100-110 tuck-in M&A deals a year.
-
The deal represents a 14.3x Ebitda multiple and strengthens Gallagher’s mid-market position.
-
The deal dramatizes the jammed PE deals conveyor, with the playing field tilted towards strategics.
-
If the deal is finalized, it will represent the largest in the acquirer’s history.
-
This follows yesterday’s appointment of Sean Smith as company president.
-
This publication previously revealed that private equity firm GTCR was seeking to place the broker into a continuation vehicle.
-
The move comes less than a year after AssuredPartners’ sale process reached a stalemate.
-
Brady Gallagher becomes M&A director for the brokerage’s retail operations.
-
Current regional sales leader Weiss will succeed Deal in the role.
-
Challenges include integration, delevering, winning staff over and building a compelling equity story.
-
Hank Dominioni will focus on Hartford, Torrington and greater Connecticut.
