M&A Deal Summary

Gallagher Acquires Cadence Insurance

On October 24, 2023, Gallagher acquired insurance company Cadence Insurance from Cadence Bank for 749M USD

Acquisition Highlights
  • This is Gallagher’s 424th transaction in the Insurance sector.
  • This is Gallagher’s 2nd largest (disclosed) transaction.
  • This is Gallagher’s 385th transaction in the United States.
  • This is Gallagher’s 6th transaction in Mississippi.

M&A Deal Summary
Date 2023-10-24
Target Cadence Insurance
Sector Insurance
Buyer(s) Gallagher
Sellers(s) Cadence Bank
Deal Type Divestiture
Deal Value 749M USD

Target

Cadence Insurance

Tupelo, Mississippi, United States
Cadence Insurance offers a full suite of commercial property/casualty, employee benefits and personal lines products to clients from 34 offices spanning 9 different states across the Southeast, including Texas. Cadence Insurance is based in Tupelo, Mississippi.

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Buyer(S) 1

Buyer

Gallagher

Rolling Meadows, Illinois, United States

website

Category Company
Founded 1927
Sector Insurance
Employees44,000
Revenue 8.6B USD (2022)
DESCRIPTION
Gallagher's headquarters in Rolling Meadows, Illinois.
Gallagher's headquarters in Rolling Meadows, Illinois.

Gallagher is an international insurance brokerage and risk management services firm. Gallagher has operations in 27 countries and offers its services in more than 140 countries around the world through a network of correspondent brokers and consultants. Gallagher was incorporated in 1927 and is based in Rolling Meadows, Illinois.

DEAL STATS #
Overall 509 of 530
Sector (Insurance) 424 of 443
Type (Divestiture) 17 of 19
State (Mississippi) 6 of 6
Country (United States) 385 of 398
Year (2023) 31 of 38
Size (of disclosed) 2 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-23 Rosenzweig Insurance Agency

Mineola, New York, United States

Rosenzweig Insurance Agency is a full-service insurance broker with pharmacy expertise serving a diverse client base of small and medium-sized businesses as well as individuals throughout the United States. Rosenzweig Insurance Agency was founded in 1954 and is based in Mineola, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-06 Keaney Insurance Brokers

Dublin, Ireland

Keaney Insurance Brokers is a commercial insurance broker that supports businesses across Ireland with insurance and risk management solutions. Keaney Insurance Brokers was founded in 1993 and is based in Dublin, Ireland.

Buy -

Seller(S) 1

SELLER

Cadence Bank

Tupelo, Mississippi, United States

website

Category Company
Founded 1876
Sector Financial Services
Employees4,546
Revenue 931M USD (2022)
DESCRIPTION

Cadence Bank provides commercial banking and financial services. Cadence Bank was formed in 1876 and is based in Tupelo, Mississippi.

DEAL STATS #
Overall 1 of 1
Sector (Insurance) 1 of 1
Type (Divestiture) 1 of 1
State (Mississippi) 1 of 1
Country (United States) 1 of 1
Year (2023) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-29 Cadence Bancorporation

Houston, Texas, United States

Cadence Bancorporation is a bank holding company established to acquire and operate failed or distressed U.S. banks. Cadence Bancorporation provides consumers, small and middle-market businesses, and commercial clients with a full range of innovative banking and financial solutions, and serves as a sound source of capital for leading companies. Cadence Bancorporation was founded in 1885 and is based in Houston, Texas.

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