Brokerlink’s triple acquisition in Ontario
BrokerLink has acquired two Ontario brokerages outright, as well as the personal and small-to-medium-enterprise commercial books of business from Halpenny Insurance Brokers Ltd.
BrokerLink fully acquired M. Edward Powell Insurance Brokers Ltd. in Oakville, Ont., and Russ Bastow Insurance Broker Ltd., based in Ajax, Ont.
All three transactions are effective immediately.
“These acquisitions expand BrokerLink’s growth in these respective Ontario communities and we look forward to welcoming our new employees, who will continue providing insurance solutions to new and existing customers,” BrokerLink says of its latest deals.
Having acquired Halpenny’s personal and small-to mid-commercial books of business, BrokerLink will expand its service in Ottawa.
Founded in 1912, Halpenny will continue to offer employee benefits solutions, retirement programs, VIP and high net worth personal lines, and affinity business insurance. These operations will remain in Ottawa and have not been acquired by BrokerLink.
The Edward Powell Insurance Brokers Ltd. deal will build out BrokerLink’s Oakville operations, the acquiring brokerage announced. Founded in 1954, the full-service brokerage offers solutions for home, auto, business, life and employee benefits, as well as product selection to claims assistance.
Powell Insurance Brokers principals David and Jeff Powell say they are “excited to move forward as part of the BrokerLink team. Together, David and Jeff will assist with the transition of Powell Insurance Brokers to BrokerLink and Jeff has accepted the additional role of director of strategic initiatives (non-standard auto).”
In Ajax, Russ Bastow Insurance Broker Ltd. will be joining BrokerLink’s operations. Russ Bastow was founded in 1969 and offers personal, commercial, and life and financial insurance services.
“Each of these brokerage’s values, dedication to exceptional customer service and passion for supporting their communities are key factors in these transactions,” says Michael Stack, BrokerLink’s vice president of acquisitions. “We plan to continue building relationships in Oakville and Ottawa and look forward to extending our knowledge and expertise to new customers in Ajax.”
Feature image by iStock.com/courtneyk
