Arthur J. Gallagher & Co., a Illinois-based insurance brokerage firm, has acquired Capital Bauer Insurance Agency, a New York-based retail insurance broker.

Capital Bauer Insurance Agency, founded in 1957, offers personal and commercial insurance, surety bonds, employee benefits, and financial services throughout the US.

As part of the acquisition, David Bauer and his team will continue to operate in their current Albany location under the direction of Douglas Brown, Northeast Regional manager of Gallagher’s retail property/casualty brokerage operation.

Arthur J. Gallagher & Co. chairman, president and CEO Patrick Gallagher said that Capital Bauer Insurance’s geographic location will be a significant addition to their current presence in upstate New York, and their specializations will be a terrific fit with their niche expertise in the Eastern Region.

Terms of the transaction were not disclosed.