Capacity Coverage Company of New Jersey Inc. said its New York City-based affiliate, ARM-Capacity of New York LLC, has acquired assets of Thornwood, N.Y.-based Mt. Pleasant Agency Inc.
This transaction was completed through a newly formed entity called Mt. Pleasant Capacity Agency LLC, which is jointly owned by ARM-Capacity of New York and by Joseph Picharallo and Keith Shaland, the managing partners of Mt. Pleasant Agency.
Mt. Pleasant sells a broad array of personal and commercial lines of insurance products from its offices in Westchester County in New York. The agency will continue to be located in its current offices.
Capacity Coverage said the transaction would allow the firm to expand its business operations into Westchester County. Capacity Coverage is an insurance and financial services organization headquartered in Mahwah, N.J., with over 280 employees in 14 retail and wholesale offices.