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Arthur J. Gallagher & Co. has agreed to acquire Bloomfield Hills, Michigan-based LSG Insurance Partners. The acquisition is subject to customary closing conditions and is expected to close in the fourth quarter of 2019.

"With their deep capabilities, focused consultative approach and strong emphasis on cross-selling, the LSG team will be a terrific strategic complement to our U.S. brokerage and consulting operations," said J. Patrick Gallagher, Jr., chairman, president and CEO of the Rolling Meadows, Illinois-based company in a statement.

Founded in 1968, LSG Insurance Partners is an independent insurance, risk management and consulting services agency in Michigan. LSG provides employee benefits, commercial property/casualty, private client, and merger and acquisition services and coverages to clients throughout the Midwest and across the U.S.

LSG President and CEO Jay Schreibman and his 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.

Schreibman added: "For over 50 years, we have focused on the power of partnership with one goal in mind – to be the best possible advisor and advocate for our valued clients. We will be delighted to bring our clients the deep expertise and broad access to products and services Gallagher offers, while maintaining our high-touch, service-driven approach. This will give us the scale, geographic reach and multi-channel network to effectively support our clients as their businesses grow."

Arthur J. Gallagher & Co. is a global insurance brokerage, risk management and consulting services firm with operations in 35 countries. The firm offers client service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants.