Risk Placement Services acquires MGU CCI Surety

Arthur J. Gallagher & Co. said Thursday its wholesale brokerage unit Risk Placement Services Inc. has acquired CCI Surety Inc., a managing general underwriter based in Golden Valley, Minnesota.

Terms of the transaction were not disclosed.

CCI Surety, founded by CEO Michael Williams, specializes in wholesale contract and commercial surety bonds for retail agents in the U.S.

Some 35 staff, led by CCI President Jeremy Crawford, will remain in their current location under the direction of Matt Lynch, head of national binding operations at RPS.