Arthur J. Gallagher (Aus) Pty Ltd acquires substantial stake in Specialised Broking Associates.

Perth, Western Australia, 9th October 2008: Arthur J. Gallagher (Aus) Pty Ltd today announced the acquisition of a forty per cent stake in Specialised Broking Associates (SBA), an independent specialist energy/natural resources broker in Perth, Western Australia, for an undisclosed sum.
 
SBA was set up in 2003 by former HLG executives under the leadership of Bill Grierson, and in addition to being appointed sole broker to Western Australia’s largest private company also already services all three of the top Western Australian-based mining houses.
 
Arthur J. Gallagher (Aus) Pty Ltd Chairman, Peter Searson, said:  “SBA has delivered an extraordinary growth record since opening and is an excellent business that fits very neatly with our global energy and mining play. The team has an enormous depth of experience in the field of natural resources and construction, which will give us a valuable foothold in the region.”

Arthur J. Gallagher (UK) Limited CEO, David Ross, commented: “Following our successful partnership with CGM in the Caribbean and the launch of Alesco Risk Management Services in London and Houston, we’re investing in SBA as part of an ongoing international natural resources and risk management strategy.  This transaction provides us with a solid platform for our planned growth in the Asia Pacific region.”

SBA Executive Chairman, Bill Grierson, said: “The financial services market is changing globally and we believe that smaller firms partnering with major internationals will lead the way as a market trend over the next few years. Gallagher truly understands specialisation, which is a business strategy we’re totally committed to, and our goals on this front can only be achieved with a fully like-minded party.”

Under the arrangement, SBA will become known as SBA Gallagher and retain an independent presence in the local market.