Global brokerage Arthur J. Gallagher & Co. is maintaining its M&A momentum with the addition of Kentucky-based Altman Insurance Services.
The newly acquired firm offers employee benefits brokerage and consulting services to large and small group businesses across Kentucky, Indiana, Ohio, and Tennessee. It was founded in 1988 by William “Billy” Altman, who tapped Mike Summerfield to be a partner in 2004.
As part of Gallagher, Altman Insurance Services will operate under the guidance of Robby White, head of South Central region employee benefits consulting and brokerage operations. Altman, Summerfield, and their 10-employee team will remain in the firm’s Louisville location.
Chairman, president and CEO J. Patrick Gallagher, Jr. commented on the acquisition and said the addition of Altman Insurance Services would help expand Gallagher’s employee benefits capabilities in the South Central region.
“I am delighted to welcome Billy, Mike and their associates to Gallagher,” he added.
Gallagher has been announcing a string of M&A deals this year. In late September, it acquired Brooklyn-based Aloia McKinnon Insurance Brokerage, as well as San Diego-based retail broker Hartley Cylke Pacific Insurance.
The broking giant also made a move to strengthen its foothold in the transportation market by acquiring Ace Commercial Insurance Center in California. It recently sought to expand its presence in the Southeast US by swooping for Southern Insurance Group in Mississippi.
Gallagher is headquartered in Rolling Meadows, Illinois. Its presence extends across 130 countries worldwide.
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