Arthur J. Gallagher & Co. acquire Encore Insurance Services Inc.

TORONTO – January 16, 2025 – CCC Investment Banking (“CCC”) announced it acted as exclusive financial advisor to Encore Insurance Services Inc. (“Encore” or the “Company”) on its sale to Arthur J. Gallagher & Co. (“AJG”).

The acquisition by AJG will unlock exciting new growth opportunities for Encore, a specialized insurance brokerage delivering property and casualty solutions for complex business operations and will enhance its ability to serve customers with innovative solutions. AJG, a global leader in insurance brokerage, risk management, and consulting services, operates in over 130 countries, with local experts in 35 offices across Canada. Encore customers will immediately benefit from the combined strength of both companies with enhanced resources, capabilities, and a broader range of services moving forward.

“This sale represents an exciting new chapter for Encore. As the shareholders explored various options, it became clear that AJG offered the perfect alignment with the Company’s goals of expanding its market reach while preserving the culture and values that the team has worked so hard to build,” said CCC Managing Director, Sunny Mahal. “This strategic partnership represents a major milestone in Encore’s continued growth and commitment to delivering progressive strategies to its customers while creating significant opportunities for its employees”

Joe Dalton, CEO of Encore commented on the acquisition, “When my business partner and I decided to sell our company, we initially thought we had a clear path forward, but soon realized we needed expert guidance. Engaging Sunny was one of our best decisions—his organized, thorough approach and M&A expertise helped us identify the ideal partner and navigate the process smoothly. The acquisition not only unlocked new growth opportunities, but also enhanced value for our customers and employees, ensuring a seamless transition. With Sunny’s support, we were able to focus on running the business while securing a deal that strengthens our leadership in the industry. This partnership positions us to deliver even more innovative solutions and career growth opportunities, benefiting all stakeholders. It would be our strong recommendation that anyone considering the sale of their business, engage Sunny prior to taking that leap. His ability to provide value in each stage of the sale process while being constantly accessible throughout would be an invaluable addition to any business owner(s).”

For employees, this acquisition promises a wealth of new career development opportunities and access to a broader range of resources to foster professional growth. Both companies share a strong commitment to maintaining a collaborative, forward-thinking workplace culture, ensuring that employees remain at the heart of the company’s continued success.

Scott Heaman, President of Encore, added, “This acquisition is a significant step forward for our company, and the benefits for our employees are clear. Sunny was invaluable in guiding us through the process, helping us stay focused on what truly matters: strengthening our team and preserving the strong culture we’ve built. By joining forces with AJG, we’re setting the stage for a broader service offering and access to new resources, while ensuring that our collaborative, forward-thinking culture remains intact. This deal offers our employees new opportunities for advancement and empowers us to continue delivering exceptional value. We’re excited about the future and confident this acquisition will create lasting success for all involved.  I would strongly recommend that anyone who is considering selling their business engage Sunny to be on their team. What stood out the most was Sunny’s pro-active communication and ability to navigate complex issues which gave us the confidence that we were making the right decisions.”

About CCC

CCC is a leading national, independent investment bank operating out of offices in Toronto and Vancouver. With a distinguished track record spanning over five decades, CCC has consistently delivered expert advice to clients completing divestitures, acquisitions, capital raises, valuations, and other capital decisions. CCC’s approach to advisory is centered around actualizing its clients’ objectives through a blend of industry expertise, tailored solutions, and forward-thinking advice. CCC understands that transactions are complex and require focus and perseverance to achieve exceptional results.

About Encore Insurance Services

Encore (www.encoregrp.com) is a specialized, nationally licensed (except Quebec) insurance brokerage delivering property and casualty solutions for complex business operations. Since 2015, the Company has grown to become one of Canada’s leading risk management solutions providers.

About Arthur J. Gallagher & Co.

Arthur J. Gallagher & Co. (www.ajg.com), a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois. Gallagher provides these services in approximately 130 countries around the world through its owned operations and a network of correspondent brokers and consultants.