Insurance broker, risk management and consulting firm Arthur J. Gallagher & Co has agreed to buy 100% of specialist UK insurance broker Stackhouse Poland Group.
Stackhouse Poland, established in 1974, offers insurance services to high-net-worth private clients, real estate, commercial, healthcare and a range of specialist insurance sectors.
The acquired UK insurance broker has a work force of 500 employees and generates more than £55m in annualised revenues.
Arthur J. Gallagher & Co chairman, president and CEO J. Patrick Gallagher, Jr., said: “Having begun life as a small, general practice broker, Stackhouse Poland has since grown through a well-managed blend of organic growth and targeted acquisitions, just like Gallagher.
“With its suite of specialisms and first-class reputation among clients in the UK marketplace, it will make an outstanding addition to our global team.”
Stackhouse Poland group CEO Tim Johnson said: “In Gallagher we have found the ideal ally to take the business to the next level. It is clear that the Gallagher team shares Stackhouse Poland values – putting clients first by employing and developing top class insurance professionals.
“The support we have had from our investment partners at Synova has seen us grow into a significant business in the UK marketplace, and the time was right to find a long-term global partner.”
Subject to receipt of regulatory approvals, the transaction is scheduled to be completed in the first quarter 2019. Financial terms of the transaction have not been disclosed.