Arthur J. Gallagher takes full ownership of Hesse and Partner
Arthur J. Gallagher & Co. has taken full ownership of Switzerland-based Hesse & Partner and Hesse Consulting (together called Hesse and Partner) by acquiring the remaining shares from founder Guido Hesse.
The terms of the deal were not revealed.
The US insurance brokerage firm had forged a partnership with Hesse and Partner three years ago when it acquired a majority stake in the business.
Established in 1997, Hesse and Partner is engaged in developing risk management and insurance solutions for firms of all sizes in the industrial and service provider sectors, with specific expertise in the waste-to-energy sector.
Guido Hesse will become chairman of the business, while Stephan Bachmann, who was head of international clients and property insurance in the past will spearhead the operations.
J. Patrick Gallagher, Jr. – Chairman, President and CEO of Arthur J. Gallagher said: “Bringing this business fully into Gallagher is another important step as we expand our footprint in Europe.
“The team shares our vision, client focus and entrepreneurial spirit, so this is great news for both our clients and employees.”