Arthur J. Gallagher & Co. has acquired The Benfield Group, a US-based healthcare consulting firm. Nine consultants from The Benfield Group across offices in four American cities will join the global professional services firm. Financial terms of the transaction have not been disclosed.
Founded in 1989, The Benfield Group is a healthcare consulting firm that offers research, business and communication services to healthcare company’s throughout the United States. The firm operates from three cities in the US: St. Louis, Chicago, Washington D.C. and Atlanta.
With a footprint that spans offices in 30 countries and client-service capabilities in more than 140 countries, Arthur J. Gallagher & Co. is one of the largest professional services players of the globe. The firm specialises in insurance brokerage and risk management services.
In line with its ambition to boost its healthcare business in the U.S, Arthur J. Gallagher & Co. has decided to purchase The Benfield Group. "Because of its unique offering, specialized healthcare focus and serviced-based culture, The Benfield Group will be a great complement to our existing employee benefit consulting capabilities," says J. Patrick Gallagher Junior, Chairman, President and CEO of Arthur J. Gallagher & Co.
The Benfield Group will continue to operate from their current locations. Co-founders Chuck Reynolds and Scott Thompson will report to William Ziebell, head of Gallagher's North Central employee benefit consulting and brokerage operations. "I am delighted to welcome Chuck, Scott and their associates to our growing family of professionals," adds J. Patrick Gallagher Junior.
Earlier this year (April 2014) Arthur J. Gallagher & Co. significantly expanded its UK business with the acquisition of the Oval Group, reportedly for a fee of approximately £199 million. The combined operation of Oval and Gallagher has more than 80 offices and 4,000 employees across the UK.