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Arthur J. Gallagher (AJG) Announces Buyout of Ashton Tiffany
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Arthur J. Gallagher & Co. (AJG - Free Report) recently acquired Ashton Tiffany LLC. The terms of the transaction have not been revealed yet.
Phoenix-based Ashton Tiffany, founded in 1995, is a full-service risk program administrator providing services in Arizona. It focuses on developing and managing public entity risk pools, leveraging its exclusive administrative tools. The acquisition of Ashton Tiffany will thus boost the acquirer’s position as a risk program administrator.
This marks the company’s first buyout in 2021. Last year, the company closed 26 mergers. Its merger and acquisition pipeline is quite strong with about $350 million revenues associated with nearly 40 term sheets either agreed upon or being prepared.
Strategic acquisitions help the acquirer strengthen its footprint, penetrate new markets as well as add capabilities and boost product and service offerings. A strong capital position enables Arthur J. Gallagher to engage in strategic initiatives that position it for growth. This Zacks Rank #3 (Hold) insurance broker targets about $1.5-$1.6 billion of mergers and acquisitions with free cash and debt.
Arthur J. Gallagher remains focused on long-term growth strategies for delivering organic revenue improvement, apart from making strategic mergers and acquisitions. It is also focused on productivity improvements and quality enhancements that should help it deliver sustained operational excellence.
Shares of Arthur J. Gallagher have gained 26.1% in a year compared with the industry’s 1.2% increase. Efforts to ramp up its growth profile and capital position should continue to drive share price higher.
There have been a host of acquisitions in the insurance space of late, given significant capital availability. Assurant (AIZ - Free Report) acquired EPG Insurance to consolidate its presence in the automotive service contract space. Brown & Brown, Inc.’s (BRO - Free Report) subsidiary Brown & Brown Dealer Services acquired considerably all ADM Marketing Group, Inc. and its affiliate ADM Insurance Services, Ltd. Marsh & McLennan Companies, Inc.’s (MMC - Free Report) unit Marsh & McLennan Agency LLC (MMA) recently acquired the independent agency INSPRO in Nebraska.
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Arthur J. Gallagher (AJG) Announces Buyout of Ashton Tiffany
Arthur J. Gallagher & Co. (AJG - Free Report) recently acquired Ashton Tiffany LLC. The terms of the transaction have not been revealed yet.
Phoenix-based Ashton Tiffany, founded in 1995, is a full-service risk program administrator providing services in Arizona. It focuses on developing and managing public entity risk pools, leveraging its exclusive administrative tools. The acquisition of Ashton Tiffany will thus boost the acquirer’s position as a risk program administrator.
This marks the company’s first buyout in 2021. Last year, the company closed 26 mergers. Its merger and acquisition pipeline is quite strong with about $350 million revenues associated with nearly 40 term sheets either agreed upon or being prepared.
Strategic acquisitions help the acquirer strengthen its footprint, penetrate new markets as well as add capabilities and boost product and service offerings. A strong capital position enables Arthur J. Gallagher to engage in strategic initiatives that position it for growth. This Zacks Rank #3 (Hold) insurance broker targets about $1.5-$1.6 billion of mergers and acquisitions with free cash and debt.
Arthur J. Gallagher remains focused on long-term growth strategies for delivering organic revenue improvement, apart from making strategic mergers and acquisitions. It is also focused on productivity improvements and quality enhancements that should help it deliver sustained operational excellence.
Shares of Arthur J. Gallagher have gained 26.1% in a year compared with the industry’s 1.2% increase. Efforts to ramp up its growth profile and capital position should continue to drive share price higher.
There have been a host of acquisitions in the insurance space of late, given significant capital availability. Assurant (AIZ - Free Report) acquired EPG Insurance to consolidate its presence in the automotive service contract space. Brown & Brown, Inc.’s (BRO - Free Report) subsidiary Brown & Brown Dealer Services acquired considerably all ADM Marketing Group, Inc. and its affiliate ADM Insurance Services, Ltd. Marsh & McLennan Companies, Inc.’s (MMC - Free Report) unit Marsh & McLennan Agency LLC (MMA) recently acquired the independent agency INSPRO in Nebraska.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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