Insurance broker Hub International Ltd. said it has acquired JMAssociates Ltd. in Fort Lee, N.J. Transaction terms were notdisclosed.
|The Chicago-based broker said JM Associates has specialized inproviding casualty insurance for the elevator industry for the past15 years. The agency will add $2.5 million in net revenue to Hub'soperations, the broker said.
|Hub said the acquisition will provide the firm with a nationalprogram for the elevator industry which is closely linked to thereal estate industry where it has a well established presence. TheFort Lee office and employees will become a part of HubInternational Northeast.
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