Gallagher acquires risk management firm

Arthur J. Gallagher & Co. said Tuesday that subsidiary Gallagher Bassett Services Inc. had acquired WCD Group L.L.C.

Terms of the transaction were not disclosed.

Founded in 2002, Pennington, New Jersey-based WCD is an environmental risk management and claims firm, Arthur J. Gallagher & Co. said in a statement. Its customers are owners, lenders, developers, contractors and insurers.

William "Chip" D'Angelo and his associates will continue to operate from their offices in Pennington, New Jersey; New York City; Poughkeepsie, New York; and High Point, North Carolina; under the direction of Scott R. Hudson, president and CEO of Gallagher Bassett Services.

Arthur J. Gallagher & Co. is the fourth-largest broker of U.S. business, according to Business Insurance’s latest ranking.