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WT Phelan & Co., an independent insurance agency based in Belmont, Massachusetts, announced that it has acquired Martini Insurance Agency in Woburn, Massachusetts. Terms of the transaction were not disclosed.

Martini Insurance was founded in 1960 by John C. Martini. He is retiring from the insurance industry and has selected WT Phelan for the sale.

WT Phelan will now have six locations across Massachusetts following the addition of Martini Insurance’s Woburn office. Martini Insurance’s eight staff members — including the agency founder John C. Martini’s three children, Julie, Michael and Kathy — have joined WT Phelan and will stay on at the Woburn office going forward. Martini Insurance’s customers will continue to have their policies handled in the current office.

Established in 1898, WT Phelan is a fourth-generation, family-owned and operated agency. WT Phelan has more than 50 employees and offices in Arlington, Belmont, Cambridge, Lexington and Watertown, Massachusetts, in addition to the new Woburn location.

Topics Mergers & Acquisitions Massachusetts