Arthur J. Gallagher & Co (AJG), an insurance brokerage and risk management services firm based in Illinois, has purchased Spataro Insurance Agency in Burnt Hills, New York.
Financial terms of the transaction have not been disclosed.
Established in 1932, Spataro operates as a retail insurance broker and delivers property/casualty, risk management and personal lines insurance products and services for commercial and individual clients across the northeastern US.
The company offers insurance coverage for the manufacturing, technology, construction, restaurant and transportation industries as well as for non-profit organizations, schools and municipalities.
Under the terms of the transaction, Matthew Spataro and his associates will continue to operate at their current location under the direction of Douglas Brown, head of Gallagher’s northeastern retail property/casualty brokerage operations.
Commenting on the acquisition, Arthur J Gallagher & Co chairman, president and CEO J. Patrick Gallagher, Jr., said, "Spataro is well-regarded for their professional standard of service, solid market relationships and depth of expertise.
"Their geographic presence and emphasis on niche specializations will be an excellent complement to our Northeastern operations. We are extremely pleased to welcome Matthew and his colleagues to our growing Gallagher family of professionals."
The latest deal follows Arthur J Gallagher’s acquisition of Tudor Risk Services of Woburn, Massachusetts, and L&R Benefits of Windsor, Connecticut.
Arthur J Gallagher & Co operates in 25 nations and offers client-service capabilities in more than 140 countries globally, leveraging a network of correspondent brokers and consultants.
Image: Arthur J Gallagher & Co corporate headquarters in Itasca, Illinois. Photo courtesy of: Arthur J. Gallagher & Co. 1999 -2014.