BrokerLink announces three Ontario deals

BrokerLink announces three Ontario deals | Insurance Business Canada

Mergers & Acquisitions

BrokerLink announces three Ontario deals

The acquisitions broadens its capability in the province

Mergers & Acquisitions

By
Terry Gangcuangco

BrokerLink has acquired M. Edward Powell Insurance Brokers and Russ Bastow Insurance Broker in Oakville and Ajax, respectively, alongside the personal and SME commercial insurance portfolio of Ottawa-based Halpenny Insurance Brokers.

The acquisitions all took effect at the start of the month.

In Oakville, Powell Insurance Brokers offers customized insurance services spanning home, auto, business, life, and employee benefits. The firm was established in 1954 by Edward and Charlotte Powell.

“From our humble roots, we were very fortunate to continue our parents’ legacy and bring Powell Insurance Brokers into its 70th year,” principals David and Jeff Powell said in a joint statement. “We are eternally grateful to our talented team members, who went above and beyond for our customers, making our seven decades of service possible.

“We’re excited to move forward as part of the BrokerLink team.”

Meanwhile, in Ajax, Bastow Insurance, founded in 1969, has remained committed to its core family values while providing customers with tailored personal and business insurance solutions.

As for Halpenny Insurance Brokers, the firm has been trading in Ottawa for more than a century. Its offerings include employee benefits, retirement planning, high-net-worth personal lines, and affinity business insurance.

Michael Stack (pictured above), BrokerLink’s vice president of acquisitions, said in an emailed release: “Each of these brokerage’s values, dedication to exceptional customer service, and passion for supporting their communities are key factors in these transactions.

“We plan to continue building relationships in Oakville and Ottawa and look forward to extending our knowledge and expertise to new customers in Ajax.”

What do you think about this story? Share your thoughts in the comments below.