Broker acquires property/casualty adviser

Woodruff-Sawyer & Co. will acquire Boston-based Capstone, property/casualty.

The acquisition is officially signed and takes effect in January, according to a Woodruff-Sawyer spokeswoman.

Capstone is an insurance adviser that specializes in property/casualty insurance.

The terms of the deal were not disclosed.

Capstone is owned and managed by Matt Field, Sean Coady and Dan McMullen. Mr. Field will serve as New England practice leader; Mr. Coady will serve as corporate and executive protection (CorpEx) practice leader, and Mr. McMullen as property & casualty practice leader. They will be joined by their staff and operate under the Woodruff-Sawyer New England brand, said the spokeswoman.

“Capstone exemplifies the entrepreneurial spirit that Woodruff-Sawyer was built on. The team is comprised of true professionals with expertise that will enhance our current areas of specialization. With this partnership we can offer clients expanded offerings, tools and resources in a region where we already enjoy substantive client relationships,” Charlie Rosson, CEO of Woodruff-Sawyer said in a Monday statement.