Gallagher closes $1.2 billion Woodruff Sawyer acquisition

Reuters04-10

By Michael Loney

April 10 - (The Insurer) - Arthur J Gallagher has completed the previously disclosed $1.2 billion acquisition of San Francisco, California-based Woodruff Sawyer.

The Insurer exclusively reported on February 25 that Gallagher was closing in on the deal, which was confirmed on March 4.

The $1.2 billion purchase price for the employee-owned D&O specialist retail broker represents about 13.64x its $88 million in trailing 12-month Ebitdac.

Andy Barrengos-led Woodruff generated $268 million in revenue in 2024. It provides a full suite of commercial property casualty products, employee benefits solutions and risk management services with a focus on middle and large market clients.

"I am delighted to officially welcome Woodruff Sawyer to Gallagher," the company's chairman and CEO said in a statement.

"Together, we will enhance our reach across both new and established markets, geographies, niches, and programs, offering our clients and prospects impactful synergies," he added.

Gallagher’s $13.45 billion acquisition of AssuredPartners, which was announced on December 9 after first being reported by The Insurer, is still pending.

The deal was initially expected to close in the first quarter of this year but Gallagher in early March pushed back the expected close to the second quarter after receiving a request for additional information as part of a regulatory antitrust review.

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