Arthur J. Gallagher & Co. has acquired Dyste Williams. Terms of the transaction were not disclosed.
Minneapolis, Minnesota-based Dyste Williams is a retail insurance agency that provides commercial lines, employee benefits and personal lines services to clients in the Upper Midwest. Ted Dyste, Nels Dyste and their team will continue operating from their current location as part of Gallagher Agency Alliance under the direction of Jen Tadin, head of Gallagher Select, the company’s US property/casualty operations for small businesses and personal insurance.
“Dyste Williams is a highly regarded agency with a long history of client service that will further deepen our small business capabilities,” said chairman and CEO J. Patrick Gallagher Jr. “I am delighted to welcome Ted, Nels and their associates to Gallagher.”
Gallagher Agency Alliance operates an M&A model, partnering with agencies that focus on small business property/casualty insurance and employee benefits.
The deal is the company’s first acquisition for the month. In February, the company acquired Massachusetts-based Agilis Partners LLC, an investment and retirement plan consulting firm. It also purchased Dominick Falcone Agency and Falcone Associates Inc. in New York.
The company also recently expanded in Brazil, with the acquisition of Case Group, an employee and health benefits brokerage and consulting firm based in Sao Paulo. In January, it purchased Australian financial planning firm Wealth Management Partners Pty Ltd.
Arthur J Gallagher & Co recently reported higher full-year 2024 results, with continued revenue growth across its brokerage and risk management segments.
The company’s total revenue reached $11.4 billion in 2024, up from $9.93 billion a year earlier. Net earnings for the year were $1.47 billion, up from $966 million a year ago.
The company said it made a total of 48 acquisitions last year, representing an estimated $387 million in annualized revenue. Of those acquisitions, 20 were from the fourth quarter.
