Tinton Falls-based World Insurance Associates, which has completed 132 acquisitions and serves its customers from more than 150 offices in the U.S., on Tuesday announced it acquired E&K Insurance Group of Eatontown on Dec. 1. Terms of the transaction were not disclosed.
E&K was founded in 1930 by two entrepreneurs who borrowed $400 and established the firm in Long Branch. Today, E&K is a is a multiline insurance agency, offering personal insurance, commercial insurance and specialty insurance.
“The goal of the E&K Insurance Group has always been to provide the most cost-effective insurance programs and professional services possible,” said Kenneth Auerbach, principal and managing director, E&K. “Over the years, E&K has grown and diversified in response to the increasingly complex insurance needs of clients. As part of World, we will continue to provide our clients with responsive and professional service, and even more products and services to meet their insurance needs.”
“E&K has a talented team of dedicated professionals,” says Rich Eknoian, co-founder and CEO of WIA. “We are pleased to welcome them to the World family and look forward to their continued success.”
Giordano, Halleran & Ciesla provided legal counsel to WIA, and Reagan Consulting advised them on the transaction. Satin and Lee Law provided legal counsel to E&K. No other advisors, diligence firms or legal counsel were disclosed.