Gallagher expands Midwest presence with Dyste Williams buy

ROLLING MEADOWS, Ill. - Arthur J. Gallagher & Co., a global leader in insurance brokerage, risk management, and consulting services, has expanded its footprint in the Upper Midwest with the acquisition of Dyste Williams, a Minneapolis-based retail insurance agency. The financial terms of the deal, which was announced today, remain undisclosed.

Dyste Williams specializes in offering a comprehensive range of services, including commercial lines, employee benefits, and personal lines to its clientele in the Upper Midwest region. Following the acquisition, the Dyste Williams team, led by Ted Dyste and Nels Dyste, will continue to operate from their current location. They will become a part of the Gallagher Agency Alliance, under the guidance of Jen Tadin, who oversees Gallagher Select, the company’s U.S. property/casualty operations for small businesses and personal insurance. InvestingPro analysis reveals that AJG has maintained dividend payments for 41 consecutive years, with an 18.18% dividend growth in the last year, highlighting its financial stability.

J. Patrick Gallagher, Jr., Chairman and CEO of Arthur J. Gallagher & Co., expressed his enthusiasm about the acquisition: "Dyste Williams is a highly regarded agency with a long history of client service that will further deepen our small business capabilities." He also extended a warm welcome to the Dyste team, signaling the strategic importance of this acquisition for Gallagher’s operations.

The Gallagher Agency Alliance is known for its merger and acquisition model that partners with agencies focusing on small business property/casualty insurance and employee benefits. The acquisition of Dyste Williams is consistent with this strategy, aiming to enhance Gallagher’s service offerings and market share in the small business insurance sector.

Arthur J. Gallagher & Co., listed on the New York Stock Exchange under the ticker (NYSE:AJG), is headquartered in Rolling Meadows, Illinois. The firm operates globally, providing services in approximately 130 countries through both its owned operations and a network of correspondent brokers and consultants.

The expansion through the acquisition of Dyste Williams demonstrates Gallagher’s ongoing commitment to growing its presence and capabilities in key markets. This move is part of the company’s broader strategy to enhance its service portfolio and meet the diverse needs of its clients across various regions.

This report is based on a press release statement.

In other recent news, Arthur J. Gallagher & Co. reported significant financial performance, with fourth-quarter earnings per share rising to $2.13 from $1.82 the previous year. This matched CFRA’s estimate and exceeded the consensus estimate, while revenue increased by 12.3%. The company also achieved a pre-tax margin expansion to 30.1% from 27.8%. Looking ahead, Gallagher’s reported EPS for 2024 is $10.09, aligning closely with CFRA’s estimate and showing a revenue growth of 14.3%. CFRA and RBC Capital Markets have both raised their price targets for Gallagher, with CFRA setting it at $345 and RBC at $340, maintaining positive ratings due to strong performance and strategic acquisitions.

In terms of mergers, Gallagher has been actively expanding its global footprint. The company recently acquired the Case Group in Brazil and Agilis Partners LLC in Massachusetts, enhancing its capabilities in employee benefits and retirement plan consulting, respectively. Additionally, Gallagher acquired Dominick Falcone Agency and Falcone Associates in New York to bolster its retail brokerage capabilities. These acquisitions are part of Gallagher’s strategic efforts to expand its service offerings and geographic reach. The company’s steady merger and acquisition pipeline is expected to support its growth trajectory.

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