Global professional services business JTC has announced plans to acquire the Buck UK and European Share Plan Administration and Trustee businesses from Arthur J. Gallagher & Co, subject to regulatory approvals.

The acquisition is expected to help complement and enhance JTC's existing Employer Solutions platform, with Buck Share Plans to bring its existing book of blue-chip clients with it, as well as its team of 16 professionals based in the UK, Guernsey and Germany.

Commenting on the deal, JTC CEO, Nigel Le Quesne, said: “This acquisition is exciting for us given share plan services are closely aligned with our own shared ownership philosophy, which has been at the heart of JTC’s culture since 1998.

“We believe that our passion for shared ownership, combined with the 25-year track record of our Employer Solutions business, continues to cement our position as a market leader.

"The JTC Employer Solutions business continues to grow strongly, and we are pleased to be able to further expand our employee share plan offering.”

Adding to this, Gallagher benefits and HR consulting division, CEO, David Piltz, said: “JTC’s values define who they are as an organisation, with service excellence at the heart of everything they do.

“From a Gallagher perspective, cultural fit was such an important factor in our decision to undertake this deal with JTC.

"It was crucial to us that our people and our clients would be moving to an organisation which shared Gallagher’s values and focus on both exceptional client service and a collaborative, supportive and inclusive working environment.”

Arthur J. Gallagher & Co previously acquired the partnership interests of BCHR Holdings, Buck, for a gross consideration of $660m (£543m), in the first half of 2023.

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