US-based National Financial Partners (NFP) has acquired Massachusetts-based EBS/Foran Insurance and Advisory Services, allowing the company to expand its employee benefits offerings.
Terms of the transaction were not disclosed.
NFP chairman and CEO Douglas Hammond said: "The Foran Insurance team has established a solid business throughout the New England region, which will perfectly complement the strength of our Boston capabilities.
"We are happy to welcome the Foran Insurance team to our NFP family and look forward to working with them."
With locations in Dennis and Northborough, EBS/Foran is specialised in designing health and welfare benefit plans for employers.
NFP noted that EBS/Foran president John Jay Foran will remain with the firm, working as a director as part of the Northeast Region for NFP.
NFP, through its benefits, property & casualty and life insurance, and wealth management businesses, offers diversified advisory and brokerage services to companies and high net worth individuals.