Arthur J. Gallagher & Co. has officially completed its acquisition of Woodruff Sawyer for $1.2 billion. This deal was finalized just over a month after it was announced in early March. Gallagher made the announcement on April 10, confirming that the San Francisco-based Woodruff Sawyer is now part of its operations.
Andy Barrengos, the CEO of Woodruff Sawyer, will continue to lead the company, reporting to Peter Doyle, who oversees Gallagher’s U.S. retail property and casualty brokerage operations. This acquisition adds to Gallagher’s growing portfolio, which also includes a pending agreement to acquire AssuredPartners for $13.45 billion. That deal is still in process, with regulatory reviews ongoing, and is expected to close in the second half of 2025.
Woodruff Sawyer has about 600 employees and provides a range of services including commercial property and casualty products, employee benefits solutions, and risk management. The firm operates from 14 offices in the U.S. and one in the U.K. It is recognized as the 24th largest independent property and casualty agency in the U.S., with revenues of approximately $214.7 million.
This acquisition reflects Gallagher’s strategy to expand its reach in the middle market, enhancing its service offerings and strengthening its position in the insurance industry.