Canadian M&A Update

MacDonald Chisholm Trask Insurance and National Brokers Insurance Services both complete acquisitions

March may prove to be a big month for M&A activity as two brokerages have already announced acquisitions.

MacDonald Chisholm Trask Insurance has purchased Homburg Insurance Company Limited through the acquisition of all the outstanding shares from Homburg International Limited.

Homburg Insurance Company Limited is an insurance brokerage with offices in Halifax and Truro where it operates under the name C.D. Armstrong Insurance. Macdonald Chisholm Trask Insurance has offices in numerous communities within Nova Scotia, New Brunswick, and Newfoundland.

Read: Hub Financial acquires BC-based MGA

“Homburg Insurance has been a very successful company for us. But as a small independent, the timing was right for us to exit from owning an insurance brokerage.  As well, this transaction is in line with our go-forward planning to consolidate our energies and resources in the traditional areas of real estate investment, management and development,” stated Jamie Wentzell, CEO of Homburg International Group.

“Homburg Insurance represented a great opportunity for us to expand both our personal lines presence and commercial business in both Halifax and Truro, where we already have offices.  We were impressed with the calibre of the business operations and the people. It is certainly a good fit for us,” said Mike Brien, president and CEO of Macdonald Chisholm Trask Insurance.

National Brokers Insurance Services Inc. has acquired Grant, Jones & Stuart Insurance Brokers Inc. Family owned and operated, Grant, Jones & Stuart was established in 1987 and will now operate as a division of National Brokers Insurance Services Inc. while remaining in their current office in Markham, Ontario.

Read: Top 5 M&A Deals of 2012

“With this acquisition we are gaining more strong talent and a solid base of clients,” said vice-president, Donna Walczyk.

President, Joyce Usher-Mesiano commented: “We are extremely excited about the opportunities this presents for our clients.”

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