US parent of Gallagher Employee Benefits Arthur J Gallagher has acquired the assets of Baker Tilly Employee Benefits for an undisclosed sum.
The assets represent the employee benefits arm of RSM Tenon, acquired by Baker Tilly in 2013.
It sees all corporate benefits contracts, 46 employees and rights to the 4pensions management software move to Gallagher.
The firm acquired commercial insurance broker Oval for £199m and employee communications firm Shilling in April and May respectively.
Gallagher Employee Benefits UK chief executive Tim Johnson says: “This is a pivotal deal for us, providing increased scale and a substantial number of quality clients and excellent turnkey operations. Their 46 new employees will join our existing UK benefits team of 230, increasing our benefits locations across the UK to 16. We remain committed to growing our business.”
Baker Tilly managing partner Laurence Longe says: “This sale completes our re-organisation and divestment of the financial management business previously owned by RSM Tenon. Once completed, this will enable us to focus on our core markets and key areas of growth both nationally and internationally.”
Money Marketing revealed in April that Towry was buying the advice arm of Baker Tilly.