Arthur J.
Gallagher & Co.’s (AJG) recent acquisition of DiBrina Group in Sudbury, Ontario is motivated by the company’s desire to strengthen its presence in Canada.
Terms of the DiBrina deal – AJG’s first in the ongoing quarter – were not disclosed. In the third quarter of 2017, the company has so far made 11 acquisitions.
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Nasdaq reported that the DiBrina buyout “is expected to strengthen [AJG’s] existing foothold in Canada,” citing the insurance broker’s previous purchase of the Canadian retail insurance broker GPL Assurance.
“DiBrina Group’s diverse service portfolio and expertise in human resource consulting are expected to be highly accretive to the acquirer’s portfolio,” Nasdaq continued.
The buyout is projected to enhance AJG’s HR operations as well, by consolidating DiBrina Group’s group benefits, group retirement, human resource consulting and individual wealth management businesses.
AJG is expected to continue its strategic initiatives to expand its global footprint and enhance its portfolio, driven by its solid capital position.
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