Arthur J. Gallagher said that buying the insurance broker would expand its retail middle-market property and casualty focus across the U.S.

Under the agreement, Gallagher will acquire AssuredPartners’ parent company from GTCR and funds advised by Apax Partners LLP. The net consideration for the transaction, after accounting for a $1 billion deferred tax asset, is approximately $12.45 billion, representing an EBITDAC multiple of 11.3x after synergies.

AJ Gallagher is nearing a deal to acquire the GTCR-backed AssuredPartners in what would be the biggest deal in its history, and a major double-down on its US mid-market heartland, this publication understands.

Arthur J Gallagher said on Monday it has agreed to acquire insurance broker AssuredPartners in a $13.45 billion deal, as it looks to bolster presence in the vast and fast-growing middle-market segment.

Arthur J. Gallagher & Co., a global insurance brokerage, risk management, and consulting services firm, is headquartered in Rolling Meadows, Illinois. Gallagher provides these services in approximately 130 countries worldwide through its owned operations and a network of correspondent brokers and consultants.

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Arthur J. Gallagher said on Monday it has agreed to acquire insurance broker AssuredPartners in a $13.45 billion deal, as it looks to bolster its presence in the vast and fast-growing middle-market segment.

Arthur J. Gallagher (NYSE:AJG) has agreed to acquire U.S. insurance broker AssuredPartners for a gross consideration of $13.45B. Gallagher expects to finance the transaction using a combination of long-term debt,