Gallagher expands UK operations with brokerage buy

Continuing its recent run of acquisitions Arthur J. Gallagher & Co. on Monday said it has signed a definitive agreement to acquire specialist U.K. broker Stackhouse Poland Group Ltd.

The transaction is subject to regulatory approval and is expected to close in the first quarter of 2019. Terms were not disclosed.

Founded in 1974 in Guildford, England, Stackhouse Poland is a specialty brokerage with more than £55 million ($70.2 million) in annual revenues, 500 employees and 23 offices across the United Kingdom, Gallagher said in a statement.

Michael Rea, CEO of the U.K. retail division at Gallagher, said in the statement that Stackhouse Poland specialty sectors include coverage for real estate, marine, churches, education and wealthy individuals.