World Insurance Associates of Tinton Falls closed out 2021 with its acquisition of SAS Insurance Agency Inc.
The Tinton Falls-based buyer announced the deal on Jan. 18; closing was on Dec. 31.
SAS Insurance Agency of Kearny was founded in 1965 and has served customers from the same location since that time. The company offers a full range of insurance products including, home, auto, commercial and life.
“I am thrilled to join the World Insurance Associates LLC family”, said owner Michael Symeonides. “We have worked hard as a team to expand our products and provide excellent service to families and businesses throughout New Jersey. We will continue to build on our foundation of service with the same professional staff at the same location, and we will continue building relationships with clients, providing the proper products and services they deserve.”
Symeonides has led the company since 2002, but began working with his father to build the business in 1986.
Since it was founded in 2012, WIA has completed 140 acquisitions.
Giordano, Halleran & Ciesla provided legal counsel to WIA while Tag Consulting Services served as advisor for the transaction.
Schwell, Wimpfheimer & Associates provided legal counsel to SAS; Helfer & Associates served as advisor on the transaction.
No additional advisors, diligence firms or legal counsel were disclosed, neither were financial details.