(By Balaseshan) Arthur J. Gallagher & Co. (NYSE: AJG), which provides insurance brokerage and third-party claims settlement, said it has acquired Aires Consulting Group Inc. headquartered in Batavia, Illinois for an undisclosed sum.
Geoff Bacci and his team will operate under the direction of Gordon Padera, Executive Vice President of Gallagher Bassett Services' (GB) Risk Control Consulting Services Division.
Founded in 1985, Aires Consulting is a licensed professional architectural and engineering firm that provides environmental and engineering, health and safety, building sciences and design and construction consulting services to their clients throughout North America.
"Aires is a great example of how we continue to find outstanding partners that will help us expand our client service capabilities. Their depth of knowledge in the environmental health and safety arena will be a significant enhancement to GB's risk control consulting services operation," said Patrick Gallagher, Jr. Chairman, President and CEO.
Recently on October 25, the company has purchased IBIS Advisors headquartered in Los Angeles, California for an undisclosed sum. IBIS Advisors offers a wide range of employee benefit and compensation consulting services for their multinational clients.
On October 23, the company has bought Park Row Associates Inc. in Providence, Rhode Island from its parent, Delta Dental of Rhode Island for an undisclosed sum. Park Row is an employee benefits insurance broker that offers a full range of group employee benefits products and consulting services to clients, located primarily in the Northeastern United States.
On October 11, AJG has acquired Unison Inc. in Minnetonka, Minnesota for an undisclosed sum. Unison is an employee benefits insurance broker that offers a full range of group employee benefits products and consulting services to their clients primarily in the North Central United States.
On October 10, the company purchased Coyle Insurance Agency Inc., in Peoria, Illinois for an undisclosed sum. Coyle is a retail insurance broker providing property/casualty, employee benefits, personal lines and risk management insurance and consulting services to their clients throughout the central United States.
AJG closed Friday's regular session at $35.67. The stock has been trading between $29.22 and $38.24 for the past 52 weeks.