Arthur J. Gallagher & Co. has announced that its risk management services subsidiary, Gallagher Bassett International, has acquired the assets of Wales-based Adjusting Associates. Terms of the transaction were not disclosed.

Founded in 2002, Adjusting Associates is a loss-adjusting and claims management firm. It primarily manages domestic, commercial, liability and business interruption claims, serving businesses primarily in the UK, as well as the Republic of Ireland, France, Portugal, Italy and Spain. Stephen Sheppard, Andrew Swan and their associates will continue to operate from their current headquarters in Llantrisant, Wales. They will report to Simon Pemberton, head of Gallagher Bassett’s UK operations.

“Adjusting Associates is a highly respected business that expands Gallagher Bassett’s UK client offerings and provides strong cross-selling opportunities,” said J. Patrick Gallagher Jr., chairman, president and CEO of Arthur J. Gallagher. “I am excited to welcome Stephen, Andrew and their associates to our growing global team.”