Arthur J. Gallagher to buy Lowndes

Arthur J. Gallagher & Co. recently announced the signing of a definitive agreement to acquire the Lowndes Lambert Group Canada, Ltd. headquartered in Toronto, Ontario.
The transaction is expected to close mid-February, 2007.
Terms of the transaction were not disclosed.
Philip G. Kane and his associates will continue to operate from their eight Canadian locations under the direction of James S. Gault, president of the retail division of Gallagher’s Brokerage Services.
“We are delighted to partner with the Gallagher organization,” said Philip G. Kane, current president and CEO of Lowndes Lambert Group Canada, Ltd.
“Our coast-to-coast Canadian exposure and highly- experienced team will help expand their North American capabilities, and they will bring significant value through their capital resources and market position. Given our similar business cultures, Gallagher is the best fit for our staff, clients and markets.”
J. Patrick Gallagher, Jr., Chairman, president and CEO said, “Lowndes Lambert has an outstanding reputation for putting their clients first, and indeed, their successful growth has been based on developing new risk solutions and expanding their capabilities. Their client dedication, niche practices and solid Canadian presence will be an excellent addition to our Gallagher team. We are thrilled at the prospect of working together to expand our North American footprint and extremely pleased to welcome Philip and his associates to our growing Gallagher family of professionals.”