ITASCA, Ill., May 31 /PRNewswire-FirstCall/ -- Arthur J. Gallagher & Co. (NYSE: AJG - News) today announced the acquisition of Woods & Grooms, Inc. of Columbus, Indiana. Terms of the transaction were not disclosed.

Founded in 1969, Woods & Grooms is a retail insurance broker and group captive administrator, offering risk management, commercial property/casualty insurance services and captive management services to the diesel engine distribution industry. Phillip L. Woods, Michael W. Willett and their associates will continue in their present roles from their current location under the direction of David J. McManus, President of Artex Risk Solutions, Inc., Arthur J. Gallagher & Co.'s international captive subsidiary.

J. Patrick Gallagher, Jr., Chairman, President and CEO of Arthur J. Gallagher & Co. stated, "With decades of captive expertise and high quality client service, Woods & Grooms will be an excellent addition to Artex Risk Solutions. Gallagher has been committed to the alternative risk transfer industry for many years, and this acquisition is another example of the growth potential in the captive arena. We are extremely pleased to welcome Phil, Mike and their associates to our growing Gallagher family of professionals."

Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is headquartered in Itasca, Illinois, has operations in seven countries and does business in more than 100 countries around the world through a network of correspondent brokers and consultants. Gallagher is traded on the New York Stock Exchange under the symbol AJG.

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Source: Arthur J. Gallagher & Co