Arthur J. Gallagher & Co. acquires Winnipeg's Belton Boisselle Ltd.
US-based Arthur J. Gallagher – a leading insurance broking, risk management, and HR consulting firm – has acquired Winnipeg, MB-based Belton Boisselle, a consultancy offering employee benefits and group retirement services.
Winnipeg-based Belton Boisselle has over 35 years of experience supporting clients with their employee benefits and group retirement plans. The independent firm also offers investment strategy services, as well as corporate individual risk management through the broking of life, disability, and critical illness insurance. The consultancy has worked with some of Canada’s top employers to maximize the value of their group employee benefit and retirement plans. The firm strives to adapt its services to the needs of the client’s corporate culture, while viewing themselves as an extension of the client’s HR and finance teams.
The customer-centric firm was acquired last week by Arthur J. Gallagher (AJG), the world’s third largest insurance brokerage. The Chicago-based firm offers benefits and HR consulting services in addition to a comprehensive commercial insurance and risk management offering. The deal will expand AJG’s client base, presence, and capabilities in Western Canada, primarily in Manitoba and Saskatchewan.
The acquiring firm already has more than 20 Canadian offices, with locations in Halifax, Ottawa, Toronto, London, Winnipeg, Edmonton, and Calgary. AJG posted revenues of $6.6 billion in 2017, and recently entered the Fortune 500 in 2016, ranking at 462. The firm has about 27,000 employees across offices in 34 countries worldwide.
Belton Boisselle heads Roger Belton and Kasey Boisselle will now report to Leslie Lemenager, head of AJG’s international employee benefits consulting and brokerage operations. The Belton Boisselle team will remain at their current Winnipeg location at 1620-155 Carlton Street.
"Belton Boisselle Ltd. provides high-quality service and innovative solutions to local, national and multinational clients,” commented J. Patrick Gallagher, Jr., AJG's Chairman, President and CEO. “Their combination of expertise and creativity has earned them an excellent reputation. I am very happy to welcome Roger, Kasey, and their associates to our growing Gallagher family of professionals."
The terms of the deal were not disclosed.
Last year, AJG was particularly active in the mergers & acquisitions scene in Canada, making 13 transactions, including the purchase of GPL Assurance, its first foray into Quebec. The recent acquisition of Belton Boisselle is a follow-through on AJG Canada national president Stephen Bryant’s stated intent to look for M&A opportunities in Saskatchewan (a province the acquired firm services).
