Arthur J. Gallagher & Co said Wednesday it acquired Gruppo Marcucci, without disclosing the terms of the deal. Shares of Gallagher climbed more than 1% intraday, touching their highest level ever. Founded in 2005, Gruppo Marcucci is a Chicago-based consulting firm specializing in human resources and benefits technology solutions, according to a company statement.
Led by partners Rhonda Marcucci and Ed Barry, the Gruppo Marcucci team will continue to operate from their current location under the direction of Tony Hernandez, Gallagher’s employee benefit consulting and brokerage chief operating officer.
“Gruppo Marcucci has been servicing Gallagher clients for nearly 10 years now, so acquiring the firm will provide our brokers with even greater access to HR and benefits technology outsourcing market intelligence, while expanding our position in the marketspace,” said J. Patrick Gallagher, Jr., CEO of the insurance brokerage and risk management firm.