Arthur J. Gallagher & Co. said it has acquired Agilis Partners LLC, an investment and retirement plan consulting firm based in Waltham, Massachusetts.
The financial terms of the transaction were not disclosed.
Agilis Partners provides institutional clients with risk management services and operates offices in the greater Boston area, New York, and Denver. Tom Cassara and his team will continue in their current roles and locations under the leadership of Jeff Leonard, head of Gallagher’s global financial and retirement services business.
“Agilis’s strong record of growth, client-focused culture and consultative approach to solving problems will enhance our retirement plan and investment consulting capabilities,” said J. Patrick Gallagher Jr., chairman and chief executive officer. “I am very pleased to welcome Tom and his associates to Gallagher.”
This acquisition continues Gallagher’s M&A streak and is its second of the month, following its
of New York-based Dominick Falcone Agency and Falcone Associates Inc. The agency deal saw Gallagher look to strengthen its presence in central New York.
In other news, the broking giant recently reached a $21 million settlement to resolve a class-action lawsuit stemming from a data breach in 2020. AM Best reported that court documents indicate that about one-third of the settlement amount will go toward legal fees, with final approval still pending.
The breach, which happened in June 2020, saw the exposure of personal identifiable information, including Social Security numbers, tax identification numbers, and driver’s licence details. The lawsuit, initially proposed in 2021 and officially filed in 2022, was brought on behalf of individuals affected by the cyberattack.
