Arthur J Gallagher, a US-based insurance brokerage and risk management services company, has acquired Texas-based Employee Benefits Analysis Corporation (EBAC), as part of a strategy to strengthen its presence in the region.
Financial terms of the transaction have not been disclosed.
EBAC, which was established in 1995, is an employee benefit brokerage firm that delivers a wide range of group employee benefit products and consulting services.
The acquired business specializes in complex self-funded and fully insured designed benefit plans, merger and acquisition implementations, and the administration of comprehensive employee benefit programs such as retirement plans, online enrollment systems, wellness programs and cafeteria plans for its clients across the US.
Arthur J Gallagher chairman, president and CEO J Patrick Gallagher, Jr., said, "EBAC is well regarded for their depth of experience and their focus on strong client relationships and high quality service.
"Their team-based sales and service culture and their Dallas/Fort Worth area location will be a wonderful complement to our south central employee benefit brokerage operations."
Under the terms of the transaction, EBAC founder Kevin Towery and staff will continue to work from their current location under the direction of Gallagher’s south central employee benefits consulting and brokerage operations leader John Neumaier.
Earlier this week, Arthur acquired Florida-based The Parks Johnson Agency, a employee benefit consultation and insurance brokerage services provider.
In October, the company purchased California-based retail insurance broker firm G S Levine Insurance Services as well as RJ Dutton of Overland Park, Kansas, a provider of employee benefit consultation and brokerage services across the country.
Arthur manages operations in 20 countries and offers client-service capabilities through a network of correspondent brokers and consultants in more than 140 nations, across the globe.