Gallagher acquires benefits and compensation specialist Accompass
US-based insurance, risk, and HR consulting firm Arthur J. Gallagher has acquired Toronto-based Accompass Inc. The acquired firm provides a range of health & wellbeing, investment and retirement, and compensation consulting services to clients across the country. Terms of the deal were not disclosed.
Rolling Meadows, Illinois-headquartered Gallagher has been on a hot streak of strategic mergers and acquisitions activity in Canada. Last year, the firm made 13 transactions in the country, including its first entry into Quebec with the purchase of GPL Assurance.
Earlier this year, Gallagher bought Manitoba-based benefits and retirement consultancy Belton Boisselle – strengthening its HR consulting capabilities in the Prairies. The company followed that move by bolstering its insurance brokerage business with the acquisition of Ottawa’s Leystone Insurance & Financial.
Gallagher has over 20 Canadian offices, and has a global footprint of over 27,000 employees across 35 countries. The firm posted $6.6 billion in revenues last year.
Now, Gallagher has further added to its HR consulting capabilities with the purchase of Toronto-based Accompass. Founded in 1997 as Pal Benefits, the firm provides comprehensive advisory services in benefits & health, investment & retirement, executive compensation, and broad-based compensation. From its roots as a small benefits consultancy started by Michael Worb, the company now has over 30 professionals tackling human capital issues for organizations across the country.
"Accompass's client-focused approach and their recognition in the market as a great place to work closely align with our own core values," said J. Patrick Gallagher, Jr., Chairman, President and CEO. "In addition, their strong presence with both Toronto-based and national organizations further expands our footprint across Canada."
President Sarah Beech and Senior VP Mark Dowdell, along with the rest of the Accompass team, will continue to operate from their current location at 1052 Yonge St. They will now be under the direction of Leslie Lemenager, head of Gallagher's international employee benefits consulting and brokerage operations.
"Accompass is a leading Canadian employee benefits, retirement planning, and compensation consulting firm that comes to us with a vast suite of tools and resources to complement our growing capabilities throughout Canada," commented Lemenager. "I am thrilled to welcome their entire team to Gallagher."
