Charlotte-based McNeary Inc. acquired by Illinois insurance broker

Charlotte-based insurance broker McNeary Inc. has been acquired by Arthur J. Gallagher & Co., an insurance brokerage and risk management services firm headquartered in Itasca, Ill.

McNeary President William Yaeger and his team will continue to operate from their offices in Charlotte; Marietta, Ga.; and Baton Rouge, La., Gallagher said in a statement this week.

They will operate under Mitchel Brashier, Gallagher’s head of Southeastern property/casualty brokerage operations, and David Ziegler, Gallagher’s head of Eastern employee benefit consulting and brokerage operations.

Terms of the deal were not disclosed.

“(McNeary’s) southeastern presence, depth of expertise and quality client service will be terrific complements to our property/casualty and employee benefits brokerage operations,” said J. Patrick Gallagher, chairman, president and CEO of Gallagher.

McNeary, headquartered in SouthPark, was founded in 1956 and specializes in insurance and consulting services for hospitals and the health care industry.

This story was originally published May 20, 2016 at 7:26 AM with the headline "Charlotte-based McNeary Inc. acquired by Illinois insurance broker."