04:55 AM EST, 03/05/2025 (MT Newswires) -- Arthur J. Gallagher ( AJG ) said late Tuesday it has agreed to acquire insurance brokerage Woodruff Sawyer for $1.2 billion.

The transaction is expected to close in Q2, subject to regulatory approvals.

Woodruff Sawyer provides property and casualty coverage as well as risk management services, and recorded $268 million in pro forma revenue for 2024, Arthur J. Gallagher ( AJG ) said.

Gallagher said it anticipates spending $150 million on integration and retention costs over a three-year period.