AJG Acquiring BenefitPort N.W.
NU Online News Service, July 12, 9:37 a.m. EDT?Arthur J. Gallagher & Co. brokerage said it has entered into a definitive agreement with certain subsidiaries of BLC Holdings, LLC to acquire the assets of BenefitPort Northwest.[@@]
Terms of the transaction were not disclosed. The Itasca, Ill.-based AJG said it expects to close the deal in the fall of 2004, "subject to certain closing conditions."
The Reppond Company joined Norwalk, Conn.-based BenefitPort in 2000. The national benefits network renamed itself BenefitPort Northwest. Through its retail agency operations, it offers a broad range of employee benefits products and services primarily to medium-sized employers in the Northwestern U.S.
When the acquisition is completed, AJG said, Ben Reppond and his associates will continue to operate from their current offices in Bellevue and Yakima, Wash., under the direction of James Durkin, president of Gallagher Benefit Services Inc.
In a separate release BenefitPort Northwest said if the deal is completed it would change its name to Gallagher Reppond. The firm has more than 100 employees.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.