Arthur j. gallagher & co. (nyse:ajg) completed the acquisition of substantially all of the net assets of lsg insurance partners, inc. for approximately $250 million.

Arthur j. gallagher & co. (nyse:ajg) signed a definitive agreement to acquire substantially all of the net assets of lsg insurance partners, inc. on september 27, 2019. jay schreibman, todd preston and their associates will continue to operate from their bloomfield hills and milwaukee branch locations under the direction of tom lannen, head of gallagher's great lakes region employee benefits consulting and brokerage operations, and cindy lamantia, head of gallagher's great lakes region retail property/casualty brokerage operations. the transaction is subject to regulatory approval and customary closing conditions. as of october 4, 2019, federal trade commission approved the early termination of antitrust approval waiting period. the transaction is expected to close in the fourth quarter of 2019. john butler, john hendrix and robert pearlstein of sandler o'neill + partners, l.p. acted as financial advisors to lsg insurance partners. sidley austin llp acted as legal advisor for lsg. arthur j. gallagher & co. (nyse:ajg) completed the acquisition of substantially all of the net assets of lsg insurance partners, inc. on october 15, 2019. the consideration paid included $174 million in cash plus a potential earnout obligation of approximately $72 million.
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