Insurance brokerage Arthur J. Gallagher & Co. has signed a definitive agreement to acquire Woodruff Sawyer for $1.2 billion.
Andy Barrengos, leader of San Francisco-based Woodruff Sawyer, will operate under the direction of Peter Doyle, head of Gallagher’s U.S. retail property/casualty brokerage operations.
The deal, expected to close in the second quarter of 2025, follows Gallagher’s much larger late 2024 agreement to acquire AssuredPartners for $13.45 billion for its middle-market reach.
Woodruff Sawyer is another middle-market play, but also has larger clients. The brokage offers commercial property/casualty products, employee benefits solutions, and risk management services from 14 U.S. offices and one U.K. office.
Woodruff Sawyer’s reported pro forma revenues and EBITDAC (including expected synergies) for the trailing 12 months ended December 31, 2024, were $268 million and $88 million respectively.
Rolling Meadows, Illinois-based Gallagher said integration costs and expected non-cash management retention costs are expected to total $150 million over the next three years.
Topics
Mergers & Acquisitions
A.J. Gallagher
Was this article valuable?
Here are more articles you may enjoy.
Interested in Mergers?
Get automatic alerts for this topic.
