Gallagher makes aviation acquisition

Arthur J. Gallagher & Co. said Tuesday it has acquired Ormond Beach, Florida-based aviation and aerospace brokerage Air-Sur Inc.

Terms of the transaction were not disclosed.

Founded in 1976, Air-Sur serves air transport operators, service companies, component manufacturers, engine/airframe overhaul and modification centers as well as general aviation operators, Gallagher said in a statement.

Thomas K. Coughlin, Air-Sur president and CEO, and around 10 employees will continue to operate from their current location under the direction of Scott Firestone, head of Gallagher’s Southwest region retail property/casualty brokerage operations, Gallagher said.