Gallagher makes Tennessee acquisition

Deal is the latest in a string of deals for the brokerage giant

Gallagher makes Tennessee acquisition

Mergers & Acquisitions

By Ryan Smith

Arthur J. Gallagher & Co. has announced the acquisition of Tennessee-based Bernard Benefits and Bernard Healthcare Financial Planning, subsidiaries of Bernard Health. Terms of the transaction were not disclosed.

Bernard Benefits is a health and employee benefits brokerage firm that specializes in small group businesses in Tennessee, Indiana and Texas. Bernard Healthcare Financial Planning advises individuals and families on health insurance coverage.

As part of the acquisition, Brian Tolbert, Matt Kleymeyer and their team will remain in their current location. They will report to Robby White, head of Gallagher’s South Central region employee benefits consulting and brokerage operations.

“Bernard complements our existing employee benefits offerings and represents an excellent cultural fit,” said J. Patrick Gallagher Jr., chairman, president and CEO of Arthur J. Gallagher. “I am very pleased to welcome Brian, Matt and their associates to Gallagher.”

Bernard is the latest in a string of acquisitions for Gallagher. Earlier this month, Gallagher subsidiary RPS snapped up Texas-based RHP General Agency. In April, Gallagher made its largest HR benefits acquisition to date with the purchase of Buck, valued at $660 million.

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