Arthur J. Gallagher has acquired Louisville, Kentucky-based insurance firm Garrett-Stotz Company serving the construction industry
Image: Gallagher acquires Kentucky-based insurance firm. Photo: Courtesy of Gerd Altmann/Pixabay
Insurance brokerage giant Arthur J Gallagher has acquired Louisville, Kentucky-based Garrett-Stotz Company for an undisclosed amount.
Established in 1931, Garrett-Stotz is a commercial and personal lines property/casualty and benefits agency, specialising in construction/surety, real estate and auto dealers.
Fred M Garrett, Sr. formed the insurance business in Louisville, Kentucky, that specialised in serving the bonding and insurance needs of his contractors. In 1966, the business was renamed Garrett-Stotz Company.
Arthur J Gallagher chairman, president and CEO J Patrick Gallagher, Jr., said: “Garrett-Stotz enhances our presence in Kentucky and Indiana, brings us additional expertise in construction and surety, and provides new cross-selling opportunities.
“I am very excited to welcome Bill, Tom, Don and their colleagues to Gallagher’s growing global team.”
Garrett-Stotz will continue to operate under Gallagher
Garrett-Stotz president Bill Kantlehner III and vice-president Tom Mitchell and their associates will continue to operate from their Louisville location under the direction of Gallagher Mid-South Region retail property/casualty brokerage operations head Bumpy Triche and Gallagher Heartland Region employee benefit consulting and brokerage operations head Jerry Roberts.
Bumpy Triche said: “Garrett-Stotz is a terrific fit with Gallagher. It is well-aligned with our core niche strategy and driven by leaders who share our entrepreneurial spirit.”
Earlier this month, the insurance brokerage acquired Anthony Hodges Consulting (AHC), a Wakefield, England-based consultancy, for an undisclosed amount.
Founded in 1996, AHC is a pension, change and reward benefit communications consultancy serving clients across the UK, the US and Australia from its headquarters in Wakefield and offices in Minneapolis and Melbourne.
Roger Hattam and his team will continue to operate from their respective locations under the leadership of Gallagher’s UK employee benefits consulting and brokerage operations head Nick Burns.
Last month, the company agreed to acquire LSG Insurance Partners, an insurance broker based in Bloomfield Hills, Michigan.
LSG offers a range of employee benefits, commercial property/casualty, private client, and merger and acquisition services and coverages to clients throughout the Midwest and across the US.