US-based Lake Norman Benefits has acquired employee benefits practice from Aquesta Bank and its wholly owned subsidiary, Aquesta Insurance Agency, for an undisclosed sum.

Commenting on the deal, Lake Norman Benefits president and CEO David Contorno said such acquisition will enable the firm to provide all of its clients with even higher levels of service.

"Acquiring the employee benefits business unit from Aquesta is an important part of our 2013 growth plans," Contorno added.

Aquesta Bank president and CEO Jim Engel stated, "Our agency can now focus on continuing to grow it primary business, personal and commercial insurance, while our benefits customers receive excellent care with Lake Norman Benefits, Inc."

Operating as an employee benefits consulting company, Lake Norman Benefits manages offices in Mooresville, North Carolina, Smithtown, New York and Chicago, Illinois.