Arthur J. Gallagher & Co. has signed a definitive agreement to acquire Woodruff Sawyer, a San Francisco-based insurance brokerage and risk management firm. The acquisition, expected to close in the second quarter of 2025 pending regulatory approval, will enhance Gallagher’s offerings in commercial property/casualty insurance, employee benefits, and risk management. Woodruff Sawyer operates from 14 US offices and one UK office, specializing in management liability, construction, and real estate. The firm, led by Andy Barrengos, will integrate under Peter Doyle’s leadership within Gallagher’s US retail property/casualty brokerage operations.

The deal, valued at $1.2 billion, includes integration costs of $150 million over three years. Woodruff Sawyer’s pro forma revenues and EBITDAC for the trailing 12 months ended December 31, 2024, were approximately $268 million and $88 million, respectively. Both companies anticipate synergies and expanded capabilities through the acquisition. Gallagher’s Chairman and CEO, J. Patrick Gallagher, Jr., praised Woodruff Sawyer’s expertise and culture, while Barrengos expressed enthusiasm for joining Gallagher’s global network.