Tinton Falls-based World Insurance Associates LLC said it acquired Flanagan Associates LLC of North Haven, CT; Insurance Solution Network LLC of Villa Park, IL; and Tucker Insurance Service Inc. of Falls Church, VA on Nov. 1, 2020. Terms of the deals were not disclosed.
“With Tucker joining our team, we have firmly established our presence in the Northern Virginia region,” states Rich Eknoian, CEO and co-founder of WIA in a Dec. 4 statement. “This is a high growth area and with Tucker’s strong relationships and commitment to excellence along with our existing operations in Virginia, we believe we are poised for success.”
Tucker is a full-service insurance agency committed to providing the best in coverage and service for its customers throughout Northern Virginia, Maryland and the Washington, D.C. suburbs.
Charlesbank Capital Partners-backed WIA has been on an acquisition spree since it was founded in 2012 with more than 85 purchases. The agency has also recently snagged targets in Eastern Pennsylvania, Kansas, New York, Rhode Island, and Indiana. It has also added several agencies in New Jersey and this year came in at No. 89 on the NJBIZ list of the top 250 companies in the state. The buyer said it now operates out of 72 offices in 15 states and Washington, D.C.
Red Bank’s Giordano, Halleran & Ciesla provided legal counsel to WIA on all the deals. Brenner, Saltzman & Wallman counseled Flanagan Associates. Connell Foley provided counsel and The Manhattan Group advised ISN on the transaction. Basnight, Kinser, Leftwich & Nuckolls provided legal counsel to Tucker.