Webb Henderson has teamed up with one of the Aussie "big six" firms to advise on a AU$1.01 billion acquisition
Arther J. Gallagher & Co has acquired Wesfarmer’s broking and premium funding businesses in Australia and New Zealand and completion of the transaction occurred Monday, after OIO consent was obtained mid-last week.
The Webb Henderson team was led by partners Michael Gartshore – who was made partner at the firm in March this year – and Garth Sinclair and advised on all New Zealand aspects of the transaction, including due diligence, sale and purchase agreement documentation and regulatory approvals. Clayton Utz advised Arthur J. Gallagher & Co on all Australian and other aspects of the transaction.
Gartshore tells NZ Lawyer that his firm has previously worked alongside Clayton Utz on trans-Tasman transactions. “We also have experience in significant insurance related M&A transactions,” he says. “We are pleased to assist Arthur J. Gallagher on this significant investment into New Zealand. The transaction was negotiated in a short timeframe and the Arthur J. Gallagher and Clayton Utz teams were great to work alongside.”
Arthur J. Gallagher & Co is a listed NYSE entity with insurance broking businesses globally employing over 16,000 insurance professionals. In New Zealand the businesses acquired include Crombie Lockwood, Lumley Finance, Monument Insurance and Monument Finance.