Deal machine World Insurance Associates said it acquired Cinnaminson-based Fairways Insurance Inc., Trenton’s Collier & O’Neill & Associates Inc. and three out-of-state agencies on Nov. 1, all for undisclosed amounts.
“We are thrilled to welcome Fairways to the WIA team,” said WIA co-founder and CEO Rich Eknoian, in a Nov. 12 statement. “Fairways has strong relationships with its base of tenured clients. We are excited to expand our presence throughout the Mid-Atlantic through our new partnership with Fairways.”
Fairways is a full-service agency serving clients in New Jersey, Pennsylvania and Delaware; Collier operates here and in Eastern Pennsylvania.
“Collier O’Neill has an excellent reputation among its client base,” Eknoian said. “We are looking forward to partnering with their team and further expanding and strengthening our client base in the New Jersey region.”
WIA said it also acquired Alliance Insurance Group of Salinas, Kan.; Palmetto Insurance of Anderson, S.C.; and Danaher-Skewes & Associates Inc. of Manassas, Va.
The latter deal was the third in Virginia over the past five months. WIA bought Hampton Insurance Agency LLC, of Hampton, Va. on Oct. 1. And on July 1, WIA acquired P&C agency Lindberg & Associates in Poquoson, Va., which focuses on petroleum insurance, trade and artesian contractors, equipment dealers, specialty contractors, hotels, motels and property management.
In all, Charlesbank Capital Partners-backed WIA said it has completed 81 acquisitions since it was founded in 2012. In addition to the Lindberg deal, the agency has also recently snagged targets in Kansas, New York, Rhode Island, Indiana, Florida and Texas. 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 advice to WIA on all of the deals. Capehart Scatchard of Mt. Laurel counseled Fairways and Roseland’s Connell Foley advised Collier.
