Gallagher buys New York wholesaler
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Arthur J. Gallagher & Co. has acquired Melville, New York-based wholesaler CMS LLC, the brokerage announced Monday.
CMS specializes in placing insurance for businesses operating in various sectors, including construction, importing, wholesaling and distribution, manufacturing and real estate, according to a Gallagher statement.
Terms of the deal were not disclosed. CMS has about 25 employees, a Gallagher spokeswoman said.
The CMS team, including Scott Charney, president; Rich Verdi, executive vice president; and Michael Raab, chief financial officer, will continue to work out of its headquarters and report to Steve Levin, vice president-Northeast Region for Risk Placement Services, Gallagher’s managing general agent and wholesale unit, the statement said.
