Insurance brokerage, risk management and consulting services firm Arthur J Gallagher has completed acquisition of the partnership interests of BCHR Holdings, otherwise known as Buck.
Based in Rolling Meadows, Illinois, Gallagher operates in approximately 130 countries around the world. HR, pensions and employee benefits consulting, technology, and administration services provider Buck has 2,300 employees across the US, Canada and the UK. Its team will work under William F Ziebell, head of Gallagher’s employee benefits consulting and brokerage operations.
Gallagher’s largest HR and benefits related acquisition to-date was first announced last December, and valued at $660 million (£527.9 million).
Gallagher said the deal will expand its value proposition within retirement, benefits and HR consulting, administration and technology, and enhance its suite of professional services that include defined benefits consulting, plan administration, defined contribution and executive benefit consulting, investment consulting, benefits strategy, compliance, employee engagement consulting, and total rewards optimisation.
The firm also aims to add a proprietary software platform called bSuite for benefits administration and employee engagement, deepen its employee benefits management team, engage in potential cross-selling opportunities across current benefits and property and casualty clients, and combine its sales culture with Buck’s to focus on outstanding client service, employee engagement and innovation.
J Patrick Gallagher Jr, chairman, president and chief executive officer, said: “I’m delighted to officially welcome our new Buck colleagues to the Gallagher family of professionals. Together, our complementary strengths within retirement, benefits consulting and administration services will enhance the value we deliver to our clients, and our collective expertise will provide tremendous opportunities for growth.
“Providing a comprehensive suite of products and services that allows employers to attract, engage and retain talent is at the heart of Gallagher Benefit Services’ mission and our global Gallagher Better Works value proposition. Through the complementary strengths of Buck’s defined benefit offerings, investment consulting, digital employee engagement platform and international footprint, the acquisition will broaden, deepen and enhance our client offerings.”