Terms of the private transaction were not disclosed.
Oakwood Insurance Agency has been providing premier trucking insurance to customers since 2011. The transportation division of Oakwood, Insure Big Rig, offers a complete range of affordable truck insurance to truck owner-operators and fleets.
“We are one of the most experienced commercial trucking insurance specialists in the country,” John Milelli, principal, Insure Big Rig, said. “Our team is very responsive and quickly provides answers to our customers’ trucking insurance questions. It’s great to be joining World and continuing to provide this high level of service to our existing and new customers.”
“On behalf of the World family, I’d like to welcome Oakwood Insurance,” Rich Eknoian, co-founder and CEO of World, said. “Their knowledge of the trucking industry and their outstanding level of customer service will make them a great fit, and I know they will continue to be successful.”
Giordano, Halleran & Ciesla provided legal counsel and TAG Consulting advised World on the transaction. APEX Business Consulting Inc. provided legal counsel and Agency Brokerage Consultants advised Oakwood on the transaction.