World Insurance Associates, based in Iselin, acquired William P. Smart Associates, the company recently announced.
William P. Smart, a Fairfield agency, primarily works within the entertainment industry, with a focus on commercial insurance and some personal and employee benefits work.
The deal was completed on June 1 and financial terms of the transaction were not disclosed.
World CEO Rich Eknoian explained the future benefits.
“The addition of this agency will expand World’s offerings in the P&C space,” he said.
William Smart agreed.
“We will be able to expand our client base and provide additional products and services,” Smart said.
Giordano, Halleran & Ciesla provided legal counsel, and Fortrust Diligence advised World on the transaction. Connell Foley LLP provided legal counsel, and The Manhattan Group advised William P. Smart on the transaction.
