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Arthur J. Gallagher & Co. said Monday that it has acquired a 65% stake in Zurich-based Hesse & Partner A.G. and Hesse Consulting GmbH.
Terms of the transaction were not disclosed, Rolling Meadows, Illinois-based Gallagher said in a statement.
Founded in 1997, Hesse specializes in developing customized coverage for industrial, manufacturing and construction clients, with a particular focus on the waste-to-energy industry.
Hesse founder and Chairman Guido Hesse, CEO Tanja Jung and their associates will continue to operate from their Zurich location under Vyvienne Wade, CEO of Gallagher’s international division, according to the statement.
The deal marks Gallagher’s entry into Switzerland, according to the brokerage, and follows strategic investments in Scandinavia and the creation of a Northern European specialty insurance broking platform, with particular strengths in marine, construction and trade credit.
Arthur J. Gallagher & Co. on Monday said it has acquired Nordic Försäkring & Riskhantering A.B., based in Gothenburg, Sweden.