Iselin-based World Insurance Associates LLC on Tuesday said it acquired the business of Landscape Contractors Insurance Services Inc. of Fresno, California, on March 1.
Terms of the private transaction were not disclosed.
LCIS was founded in 1989 to provide customized insurance programs to California landscape contractors. The company’s principal objective is to provide the green industry with superior insurance products and outstanding customer service.
“LCIS has built a reputation in the green industry as a trusted and reliable partner and insurance adviser,” Kim Ayala, CEO and president, Landscape Contractors Insurance Services, said. “Our specialists have guided our clients safely for over 30 years, with a focus on providing them with the most comprehensive insurance coverages available, at the most competitive rates, together with industry-leading customer support services. As a part of World, we will continue to do so, while offering our clients additional products and services.”
“I am pleased to welcome LCIS to the World family,” Rich Eknoian, co-founder and CEO of World, stated. “They are an experienced team, with a depth of green industry knowledge, and I look forward to seeing their business continue to grow as part of World.”
Giordano, Halleran & Ciesla provided legal counsel and Alvarez & Marsal advised World on the transaction. Fennemore Dowling Aaron provided legal counsel and MarshBerry advised LCIS on the transaction. No other advisers, diligence firms or legal counsel were disclosed.
Since its founding in 2011, World has completed over 185 acquisitions and serves its customers from more than 250 offices across the U.S.
