Arthur J. Gallagher & Co. (AJG) has revealed its acquisition of Binney, Chase & Van Horne (BCV) in Pasadena, CA.
Terms of the transaction were not disclosed.
BCV, founded in 1930, offers P&C and employee benefits coverages and services to clients in southern California. A release noted that BCV focuses on serving non-profit organizations, as well as affordable housing developers.
As part of the acquisition, BCV’s Bruce Newsom, Robyn Roesner and their associates are relocating to AJG’s Glendale, CA office, where they will report to AJG Southwest region retail property/casualty brokerage operations president Scott Firestone and AJG Western region employee benefits consulting and brokerage operations president Norbert Chung.
“BCV is an excellent and professional broker with similar core values that will deepen Gallagher’s existing capabilities in serving non-profit organizations,” said AJG chairman, president and CEO J. Patrick Gallagher, Jr. “I am very excited to welcome Bruce, Robyn and their associates to our growing Gallagher family of professionals.”
The acquisition of BCV comes just after AJG revealed its plans to purchase Marchetti, Robertson & Brickell Insurance and Bonding Agency – a retail P&C broker with offices in Mississippi and Missouri that serves the construction, bonding, transportation, and forest product industries.