Gallagher buys Minneapolis-based broker

Arthur J. Gallagher & Co. Monday announced the acquisition of Minneapolis-based Dyste Williams Insurance Agency.

Terms of the transaction were not disclosed.

Dyste Williams offers commercial lines, employee benefits and personal lines coverages to clients in the Upper Midwest, according to a Gallagher statement.

President and CEO Ted Dyste, Vice President Nels Dyste and Dyste Williams’ approximately 30 employees will remain in Minneapolis as part of Gallagher Agency Alliance under the direction of Jen Tadin, head of Gallagher Select, its U.S. property/casualty operations for small businesses and personal insurance.

J. Patrick Gallagher Jr., chairman and CEO, said in the statement the deal would deepen Gallagher’s small-business capabilities.

Gallagher is the third-largest broker of U.S. business, according to the most recent Business Insurance rankings.