Posted on 02 Aug 2010
Arthur J. Gallagher & Co. has acquired the remaining 60% equity interest in Specialised Broking Associates Pty Ltd, (SBA) headquartered in Perth, Western Australia. Terms of the transaction were not disclosed.
In October 2008, Gallagher acquired a 40% equity interest in SBA with the option to increase its ownership to 100%. SBA provides risk management and commercial property/casualty insurance services to its Australian and international clients. They specialize in mining, energy, construction, and corporate industries. Bill Grierson, Executive Chairman of SBA, and his associates will continue to operate from their current Perth location under the name SBA Gallagher. They will be a part of Arthur J. Gallagher Australasia Holdings Pty Ltd (AJGA) led by Andrew Godden, a former principal of SBA who was recently appointed as AJGA's CEO.
"Part of our international growth strategy is to develop successful broker partners that help us expand our global sales and service capabilities. SBA is a great example of that strategy in practice," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "We began this partnership two years ago, and today SBA's expertise in natural resource risk management as well as their geographic presence has become a great component of Gallagher's international operations. We're pleased to complete the final phase of this acquisition, and we look forward to our team's continued success."
Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is headquartered in Itasca, Illinois, has operations in 15 countries and does business in more than 100 countries around the world through a network of correspondent brokers and consultants.