Gaspar Insurance Services announced Thursday it has acquired Elden Insurance for an undisclosed amount.

The acquisition comes ahead of the impending retirement of Elden Insurance’s owner Dennis Helio.

“I am proud to have my clients become a part of the Gaspar Insurance Family – I know that they are in good hands,” Helio said in a statement.

Elden, based in Canoga Park, sells both commercial and individual insurance coverage. It served Valley clients since 1975.

Woodland Hills-based Gaspar Insurance was founded by Chief Executive Tim Gaspar in 2008. It is one of the few local agencies with a commercial insurance division that emphasizes loss control for clients.