Global insurance broker Arthur J. Gallagher has acquired the remaining shares of Zurich, Switzerland-based Hesse & Partner AG and Hesse Consulting GmbH from founder, Guido Hesse.
Gallagher entered a partnership with Hesse and Partner three years ago when it acquired a majority interest of the business.
Founded in 1997, Hesse and Partner develops risk management and insurance solutions for companies in the industrial and service provider sectors, with particular expertise in the growing waste-to-energy sector.
Following the acquisition, founder Guido Hesse will become Chairman and Stephan Bachmann, previously Head of International Clients and Property Insurance, will lead the operations.
“Bringing this business fully into Gallagher is another important step as we expand our footprint in Europe,” said J. Patrick Gallagher, Jr., Chairman, President and CEO of Arthur J. Gallagher.
“The team shares our vision, client focus and entrepreneurial spirit, so this is great news for both our clients and employees,” he added.