Arthur J. Gallagher said on Monday it has agreed to acquire insurance broker AssuredPartners in a $13.45 billion deal, as it looks to bolster its presence in the vast and fast-growing middle-market segment.

Under the agreement, Gallagher will acquire AssuredPartners’ parent company from GTCR and funds advised by Apax Partners LLP. The net consideration for the transaction, after accounting for a $1 billion deferred tax asset, is approximately $12.45 billion, representing an EBITDAC multiple of 11.3x after synergies.

Arthur J. Gallagher & Co. has signed an agreement to acquire AssuredPartners Inc., a partnership of insurance and employee benefits brokerage firms, for a total consideration of $13.45 billion, the firm announced Monday.

(Reuters) -Arthur J Gallagher said on Monday it would acquire insurance broker AssuredPartners in an all-cash deal worth $13.45 billion, as it looks to bolster its focus on property and casualty and employee benefits across the U.S.

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Arthur J. Gallagher has agreed to acquire AssuredPartners in a $13.45 billion deal.The insurance brokerage, risk-management and consulting-services firm said Monday that buying the insurance broker would expand its retail middle-market property and casualty focus across the U.

The insurance brokerage has been part of GTCR’s portfolio since 2011. The deal is Rolling Meadows-based Gallagher's largest-ever acquisition.

Arthur J Gallagher said on Monday it would acquire insurance broker AssuredPartners in an all-cash deal worth $13.45 billion, as it deepens focus on property and casualty and employee benefits across the U.

Arthur J. Gallagher & Co agreed to acquire insurance broker AssuredPartners in a $13.45 billion deal, its largest-ever acquisition.

Founded in 2011, AssuredPartners is the 11th largest insurance broker in the U.S. with more than 10,900 domestic employees, providing a variety of coverage including property, casualty and employee. The firm employs 120 people in Louisville and 52 people in Jeffersonville,