Canadian brokerages’ latest M&A deals
Brokerage growth through acquisition in Canada proceeded at a torrid pace this past week.
Large Canadian brokerages Westland Insurance Group and Acera Insurance Services Ltd. each announced new deals, while Navacord Inc. expanded two of its specialty brokerages in Canada’s capital region:
Westland acquired Alberta-based Canadian Special Risks Inc., effective June 1.
Acera Insurance acquired Ontario-based Dorey & Tolgyesi Insurance Brokers Ltd.
Navacord brokerages Petrela, Winter & Associates and Jones Deslauriers each opened new offices in Ottawa.
Westland says its deal marks another milestone in the brokerage’s ongoing expansion efforts across the country. Athabasca, Alta.-based Canadian Special Risks is a well-established commercial brokerage specializing in commercial welding programs. In particular, the firm offers welders commercial general liability, oil and gas consultants and inspectors CGL, electrical contractor CGL, commercial property liability, product liability and property insurance, according to its website.
“The team at Canadian Special Risks are at the top of their class and have invaluable experience and insight to offer,” says Westland president and CEO Jamie Lyons. “With this partnership, we’re well-positioned to offer enhanced insurance solutions tailored to the unique risks and challenges faced by our Alberta business clients.”
Westland has made a few other deals this year. Most recently, Westland expanded its employee benefits offerings with the acquisition of Dupuis Langen Group in Richmond, B.C.
Acera’s transaction with Dorey & Tolgyesi Insurance Brokers marks the brokerage’s fourth deal in Ontario so far in 2024, following partnerships with KRS Insurance Brokers Inc., Green Benefits Group and Dominion Group Benefits.
Kingston, Ont.-based Dorey & Tolgyesi Insurance is the largest independent brokerage in the city and has a second location in Bath, Acera said Wednesday. “Co-founder Ernie Tolgyesi has been steadfast in maintaining a local independent broker channel since opening Dorey & Tolgyesi more than 15 years ago.”
The brokerage offers auto, property, commercial and group insurance.
Acera’s deal closed June 1, and Dorey & Tolygesi will eventually transition to become Acera Insurance. “This partnership supports Acera Insurance’s commitment to ensure there remains a competitive independent, Canadian-owned brokerage option in Ontario, where it now has offices in Aurora, Bath, Brampton, Burlington, Hamilton, Huntsville, Kingston, London, Newmarket, Ottawa and Welland.”
Territorial expansion
Meanwhile, Navacord specialty brokers Petrela, Winter & Associates and Jones DesLauriers expanded in Ottawa.
Construction specialist Petrela, Winter & Associates, a Navacord broker partner since 2015, opened their newest office in Ottawa, effective May 29. The brokerage offers specialized insurance, including bonding solutions and advice to contractors and developers across Canada.
Petrela Winter’s Ottawa office is led by Alexander Petrela, alongside a team of veteran risk advisors. Its other office locations include Toronto, London and Sudbury.
One of Navacord’s largest broker partners, Jones Deslauriers, also enhanced its Ottawa presence by integrating Binks Insurance and Risk Balance Insurance into its brand, effective June 1.
In operation for more than a century, Binks is well-known for its expertise in servicing automotive dealerships, non-profit organizations and high-risk commercial placements. Risk Balance Insurance was established in 2016; its sectors include technology and life sciences, as well as non-profit organizations.
These latest deals continue an already-busy month of June M&A activity, including deals involving BrokerLink, StoneRidge Insurance and McDougall Insurance.
Acera Insurance has already closed another deal effective June 1 — Janzen Insurance Brokers Ltd. in Surrey, B.C. The team of six behind this brokerage have been providing home, auto and commercial insurance under the Janzen Insurance name since 2017, with founders Andrew and Charlene Janzen each in the industry for 30 years.
Feature image by iStock.com/Atstock Productions
