Insurance brokerage Arthur J. Gallagher and Co. has acquired JP Tech Insurance Services Inc. and will move the staff to the San Fernando Valley.
Terms of the deal between Gallagher, in Rolling Meadows, Ill. and JP Tech Insurance were not disclosed.
JP Tech President Joseph Plascencia and his associates will relocate to the Glendale offices of Gallagher from downtown Los Angeles. They will be under the direction of Scott Firestone, head of Gallagher’s retail property and casualty brokerage operations in the southwest region.
JP Tech provides liability and commercial insurance to the life science, technology, financial institution, REIT and hedge fund industries.
“As part of Gallagher, we can explore opportunities to expand their existing relationships while strengthening our capabilities in their highly specialized areas of expertise,” said Chief Executive Patrick Gallagher Jr. in a statement.