GTCR has announced the sale of AssuredPartners to Arthur J. Gallagher & Co. for $13.45 billion in an all-cash deal, marking a historic transaction as the largest sale of a U.S. insurance broker to a strategic acquirer. AssuredPartners, ranked as the 11th largest insurance broker in the U.S., employs 10,900 professionals across North America and the U.K., offering a range of risk management solutions, including property and casualty and employee benefits insurance brokerage services.

Founded in 2011 through GTCR's Leaders Strategy™ partnership with Jim Henderson, AssuredPartners has successfully acquired and integrated over 500 businesses in its 13-year history. The sale is expected to close in the first quarter of 2025, pending regulatory approvals and customary closing conditions.

This acquisition is significant for several reasons. It not only represents a record-breaking financial transaction but also enhances Gallagher's market position by adding a substantial workforce and extensive geographical coverage. The deal is anticipated to create synergies and benefits from market consolidation, positioning Gallagher for accelerated growth and improved competitive standing.

The strategic importance of this acquisition extends beyond its size. It is a landmark event in the insurance brokerage sector, with AssuredPartners' strong M&A integration capabilities and client-focused culture aligning well with Gallagher's operations. The transaction is expected to bolster Gallagher's offerings in property and casualty insurance, employee benefits, and services for high-net-worth individuals.

The anticipated closing in Q1 2025 allows for thorough regulatory review while maintaining the momentum of the deal. The all-cash structure of the transaction reflects Gallagher's robust financial position and confidence in the acquisition's value. This consolidation may also stimulate further M&A activity within the industry as competitors adapt to the evolving landscape.

The sale culminates a successful 13-year partnership between GTCR and AssuredPartners, which began with the Leaders Strategy™ initiative led by insurance veteran Jim Henderson. Under Henderson's leadership, AssuredPartners has grown significantly through strategic acquisitions and investments in talent and technology. GTCR previously sold the company to Apax Fund VIII in 2015 but reacquired a majority stake in partnership with Apax Fund IX in 2019.

Aaron Cohen, Managing Director at GTCR, emphasized the success of the partnership, highlighting the focus on building a client-first culture at AssuredPartners. The collaboration has resulted in a leading independent insurance brokerage that is well-positioned for future growth and success in the competitive insurance market.

Overall, this acquisition not only signifies a major financial milestone but also reflects ongoing trends in industry consolidation, potentially reshaping the competitive dynamics within the insurance brokerage sector.