ROLLING MEADOWS, Ill., Sept. 27, 2019 /PRNewswire/ -- Arthur J. Gallagher & Co. today announced that it has signed a definitive agreement to acquire Bloomfield Hills, Michigan-based LSG Insurance Partners. The acquisition is subject to customary closing conditions and is expected to close in the fourth quarter of 2019.
Founded in 1968, LSG Insurance Partners has grown to become a leading independent insurance, risk management and consulting services agency in Michigan. LSG offers a broad range of employee benefits, commercial property/casualty, private client, and merger and acquisition services and coverages to clients throughout the Midwest and across the United States. Jay Schreibman, Todd Preston and their associates will continue to operate from their Bloomfield Hills and Milwaukee branch locations under the direction of Tom Lannen, head of Gallagher's Great Lakes region employee benefits consulting and brokerage operations, and Cindy LaMantia, head of Gallagher's Great Lakes region retail property/casualty brokerage operations.
"With their deep capabilities, focused consultative approach and strong emphasis on cross-selling, the LSG team will be a terrific strategic complement to our U.S. brokerage and consulting operations," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "We are eager to welcome Jay, Todd and their associates to our growing team."
"Adding LSG to our existing presence in Michigan will make us an even more formidable player," said Tom Lannen. "We are very excited about the impact that our combined team will have on our clients."
"For over 50 years, we have focused on the power of partnership with one goal in mind – to be the best possible advisor and advocate for our valued clients," said Jay Schreibman, President and CEO of LSG. "We will be delighted to bring our clients the deep expertise and broad access to products and services Gallagher offers, while maintaining our high-touch, service-driven approach. This will give us the scale, geographic reach and multi-channel network to effectively support our clients as their businesses grow."
Arthur J. Gallagher & Co. (NYSE:AJG), a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois. The company has operations in 35 countries and offers client service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants.
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SOURCE Arthur J. Gallagher & Co.