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ROLLING MEADOWS, Ill. - Arthur J. Gallagher & Co., a global insurance brokerage and consulting services firm, has acquired New Zealand’s First Capital Financial Services and its affiliate First Capital Wealth Management, the company announced today. The financial terms of the deal remain undisclosed.
First Capital, a financial advisory firm headquartered in New Zealand, offers a range of services including wealth management, risk management, and employee benefits. With offices in Christchurch and Auckland, First Capital serves both corporate clients and individuals across the country. Following the acquisition, Hugh Percy and his team at First Capital will report to Graham Campbell, who leads Gallagher’s employee benefits and HR consulting operations in Australia and New Zealand. According to InvestingPro data, AJG maintains strong financial health with a current ratio of 1.51, indicating robust operational efficiency.
J. Patrick Gallagher, Jr., Chairman and CEO of Arthur J. Gallagher & Co., expressed enthusiasm about the acquisition, highlighting the alignment of client-focused cultures and the opportunity to enhance the company’s benefits consulting capabilities in the region. He welcomed Hugh Percy and his associates to Gallagher’s expanding global team.
Arthur J. Gallagher & Co., headquartered in Rolling Meadows, Illinois, operates in roughly 130 countries worldwide. The firm’s services are delivered through a combination of owned operations and a network of correspondent brokers and consultants.
This strategic move by Arthur J. Gallagher & Co. is part of its ongoing effort to broaden its international presence and service offerings. The acquisition of First Capital Financial Services is based on a press release statement and marks a continued expansion for Gallagher in the Asia-Pacific region.
In other recent news, Arthur J. Gallagher & Co. has amended its credit facility agreement, increasing its commitment from $1.7 billion to $2.5 billion and extending the maturity date to April 3, 2030. This financial move is designed to provide the company with increased flexibility for operations and growth initiatives. Additionally, Arthur J. Gallagher & Co. has expanded its operations through several acquisitions. The company acquired Imbs Holdings, a retail insurance broker based in St. Louis, Missouri, to enhance its retail brokerage capabilities in the South Central U.S. region. Another acquisition includes Tresidder Insurance Brokers in Australia, which will strengthen its presence in the Australian market. Furthermore, the company has acquired Litchfield Special Risks, Inc. (LSR), a Texas-based wholesale insurance broker, to bolster its expertise in the transportation and property/casualty sectors. In related developments, Piper Sandler has maintained its Overweight rating on Arthur J. Gallagher & Co., with a $350 price target, highlighting the company’s robust financial health and strategic adaptability. The firm anticipates that the company’s guidance for the first quarter of 2025 will exceed expectations, despite a delayed acquisition.
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