Arthur J. Gallagher & Co (AJG), an insurance brokerage and risk management services firm has acquired Grossman & Associates in Beachwood, Ohio.

Comenting on the expansion of the business, Arthur J. Gallagher & Co chairman, president and CEO Patrick Gallagher said for over three decades, Grossman & Associates has developed a sales culture with an emphasis on building strong relationships with both their clients and benefit providers.

"With their team-based dedication to quality client service, specialization and geographic presence, they will be a terrific complement to our employee benefits operations. We are pleased to welcome Ned and his associates to our growing Gallagher family of professionals."

Both firms have not revealed the terms of the transaction and other conditions.

Headquartered in Itasca, Illinois, AJG operates in 17 countries and offers client service capabilities in more than 110 countries around the globe through a network of correspondent brokers and consultants.

Grossman & Associates provides group health, welfare and wellness plans for their clients mainly in Ohio.