Itasca, Ill.-based insurance broker Arthur J. Gallagher & Co. said it has acquired Gale Smith & Company Inc. of Brentwood, Tenn. Financial terms were not released.

The Gallagher firm said Gale Smith & Company, established in 1868, is a retail insurance broker offering risk management, commercial property-casualty and accident-health insurance services to clients throughout the central and mid-southern United States.

Gale Smith specializes in the construction, transportation, religious and not-for-profit industries with a focus on larger accounts.

Clyde Redford, Marshall Brown, Bill Carpenter and Christie Reeves, principals of the firm, as well as its approximately 40 associates will continue to operate in their Brentwood location under the direction of Mitchel Brashier, southeastern regional manager of Gallagher's retail p-c brokerage operation.

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