Arthur J. Gallagher & Co. Acquires Petty Burton Associates, Inc.

ITASCA, Ill., Feb. 1 /PRNewswire-FirstCall/ -- Arthur J. Gallagher & Co. today announced the acquisition of Petty Burton Associates, Inc. of Montclair, New Jersey. Terms of the transaction were not disclosed.

Founded in 1992, Petty Burton Associates, Inc. is a retail insurance broker offering professional liability, commercial property/casualty and workers' compensation insurance products and services to their clients throughout the United States. They specialize in insurance products for the design professional community, specifically architects, engineers and related construction professionals. Arlene Petty and her staff will continue to operate from their current Montclair location under the direction of Douglas Brown, Northeastern Regional Manager of Gallagher's Retail Brokerage Services Division.

J. Patrick Gallagher, Jr., Chairman, President and CEO said, "Petty Burton Associates is a terrific example of how our acquisition campaign can broaden our insurance product and service capabilities. Their wealth of professional liability experience will be a great addition to our niche practice group. We are extremely pleased to welcome Arlene and her team to our growing Gallagher family of professionals."

Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is headquartered in Itasca, Illinois, has operations in 13 countries and does business in more than 100 countries around the world through a network of correspondent brokers and consultants.

Gallagher is traded on the New York Stock Exchange under the symbol AJG.