Gallagher to acquire UK and US-based broker for $1.2bn

Gallagher has signed a deal to acquire broker Woodruff Sawyer for $1.2bn (£940m).

Operating from 14 US offices and one UK office, Woodruff Sawyer provides commercial property and casualty products, employee benefits propositions and risk management services to middle and large market clients.

Among its areas of expertise include management liability, construction and real estate.

As part of the deal, the Woodruff Sawyer team, led by chief executive Andy Barrengos, will operate under the direction of Peter Doyle, head of Gallagher’s US retail property/casualty broker operations.

Barrengos said: “We are thrilled to join Gallagher, which shares our deep commitment to employees and has a culture defined by integrity, trust and excellence.

“We look forward to leveraging our complementary expertise and Gallagher’s substantial global capabilities to provide outstanding support for our clients.”

Closing date

The transaction is expected to close during the second quarter of 2025.

Integration costs and expected non-cash management retention costs are expected to total $150m (£117m) over the next three years.

J. Patrick Gallagher, chairman and chief executive at Gallagher, said: “Woodruff Sawyer has an outstanding reputation in our industry and we have long admired their niche expertise and client-focused culture. Our complementary strengths will enhance the value we deliver to our clients and significantly expand our capabilities.

“I look forward to welcoming Barrengos and the more than 600 Woodruff Sawyer colleagues to our growing Gallagher family of professionals.”