Arthur J. Gallagher & Co., the Rolling Meadows, Ill.-based broker, announced it has acquired the remaining shares of specialist Swiss broker Hesse & Partner AG and Hesse Consulting GmbH from the company’s founder Guido Hesse.
Financial details of the transaction were not disclosed.
Gallagher entered a partnership with Zurich-headquartered Hesse & Partner three years ago when it acquired a majority interest of the business.
Founded in 1997, Hesse & Partner develops risk management and insurance solutions for companies of all sizes in the industrial and service provider sectors, with particular expertise in the growing waste-to-energy sector.
Founder Guido Hesse will become chairman, and Stephan Bachmann, previously head of International Clients and Property Insurance, will lead the operations going forward.
“Bringing this business fully into Gallagher is another important step as we expand our footprint in Europe,” said J. Patrick Gallagher Jr., chairman, president and CEO. “The team shares our vision, client focus and entrepreneurial spirit, so this is great news for both our clients and employees.”
Source: Arthur J. Gallagher & Co.
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