Arthur J. Gallagher Arm Buys National Transportation Adjusters
Zacks Investment Research | Sep 03, 2017 10:04PM ET
Arthur J. Gallagher & Co (NYSE:AJG) recently acquired National Transportation Adjusters, Inc., via its subsidiary, Gallagher Bassett Services, Inc. The financial details of the transaction, however, remained under wraps.
Scottsdale, AZ based National Transportation Adjusters’ expertise lies in managing long-haul and corporate fleet transportation claims for businesses and insurance companies in the United States. Post takeover, this third-party claims administrator will continue to operate from its present location under the leadership of Scott R. Hudson — president and CEO of Gallagher Bassett Services.
This buyout will enable the acquirer to strengthen its foothold in the claims management services market and enhance it ability in addressing risks related to corporate and long-haul fleet transportation. The buyout seems to be part of the company’s strategy to pursue smaller tuck-in mergers in 2017.
Strategic acquisitions made by the company have always strengthened its portfolio. It has evolved from a small retail presence in Australia, Canada and New Zealand to one of the top five brokers globally.
Six acquisitions have been made by the company to date, in the ongoing quarter. On Aug 18, the company acquired Ballard Benefit Works, Inc. to enhance its employee benefits consulting and brokerage operations in the United States. The company closed 21 acquisitions with annualized revenues of over $92.8 million in the first half of 2017.
Zacks Rank and Share Price Movement
Arthur J Gallagher carries Zacks Rank #3 (Hold). Shares of Arthur J Gallagher have underperformed the Zacks Investment Research
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