Tinton Falls, NJ
Founded in 2012, World Insurance Associates offers comprehensive insurance coverage, risk management strategies, and benefits consulting services for businesses and individuals. Focused on property and casualty lines, the company has built centers of excellence in specialized industries such as transportation, self-storage facilities, non-profits and construction. WIA operates 40 offices in 12 states and has become one of the country’s fastest-growing insurance brokerages through a combination of organic growth and agency acquisitions, with 55 completed at the time of acquisition.
Charlesbank invested in WIA in April 2020, becoming the company’s first private equity sponsor. The additional capital will enable WIA to optimize its operations and accelerate its geographic expansion program, especially through continued acquisitions of independent agencies. After the transaction, the WIA management team and employee shareholders remain major shareholders alongside Charlesbank.