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Iselin-based World Insurance Associates LLC on Friday said it acquired the business of TW Group Inc. of Westmont, Illinois, on Dec. 31.
Terms of the private transaction were not disclosed.
TWG was founded in 1946 and provides insurance to individuals and businesses. It specializes in business, personal, life and health insurance.
“Our mission has always been about working hard to establish trusting client relationships,” Thomas Walsh, president, TW Group, said. “We look forward to joining World and are committed to continuing the tradition that our family founder, Thomas J. Walsh Sr., started — to build relationships with our clients, one customer at a time.”
“On behalf of the World family, I would like to welcome TWG,” Rich Eknoian, co-founder and CEO of World said. “They have a team of experienced insurance professionals that are committed to helping their customers find products and services that meet their needs. They will be a great addition to World.”
Giordano, Halleran & Ciesla provided legal counsel and TAG Consulting Services advised World on the transaction. Donatelli & Coules Ltd. provided legal counsel and the Manhattan Group advised TWG on the transaction.
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