Hub International Ltd, a portfolio company of U.S. private equity firm Hellman & Friedman (H&F), has acquired Integro (Canada) Ltd, a Montréal-based commercial property and casualty brokerage specializing in complex risks. Terms weren’t disclosed. Founded in 2005, Integro Canada has offices in British Columbia, Ontario and Québec. Hub, a Chicago-based insurance brokerage, said the deal expands its reach in Canada and ability to “upscale our presence in the larger risk management sector.” H&F bought Hub for about US$4.4 billion in 2013. Last month, Reuters reported H&F is exploring the sale of a stake in the business.
Hub International Acquires Integro (Canada) Ltd.
CHICAGO, Sept. 8, 2017 /CNW/ — Hub International Limited (Hub), a leading global insurance brokerage, announced today that it has acquired Integro (Canada) Ltd. (Integro Canada). Terms of the acquisition were not disclosed.
With offices in British Columbia, Ontario and Quebec, Integro Canada is a top-tier commercial property & casualty brokerage specializing in complex risks, including construction, transportation, professional services, manufacturing, real estate, entertainment, mining and financial services. Key leadership and staff from Integro Canada will be joining the Hub team, including Mark Rankin, President, based in Toronto, Robert Dunn, Chairman, based in Montreal, and Michael Baddeley, Managing Principal, based in Vancouver.
“Integro Canada’s experience in larger, more complicated risk issues brings an expanded dimension to Hub’s substantial leadership position in the Canadian market,” said Tina Osen, President, Hub Canada. “We are already recognized as a leader in Canada and with this expansion we broaden our geographic reach and our ability to upscale our presence in the larger risk management sector across the entire country.”
Integro Canada offers property & casualty and management liability insurance solutions to its clients. Hub will round out Integro Canada’s solution by enabling them to bring employee benefits and personal line insurance options as well.
“Hub is a dynamic, forward thinking organization and what they have achieved since their creation is nothing short of remarkable. Joining forces provides our team with a depth and breadth of resources that will position us to be able to provide our clients with enhanced services and capabilities,” said Rankin.
Hub Chairman and CEO, Martin P. Hughes, stated, “This is a significant deal for Hub as it also expands our focus on large account business in Canada. Hub is focused on working with like-minded organizations and Integro Canada’s commitment to culture, mission and expertise that parallels our own, makes them a great addition to our presence in Canada.”
About Hub’s M&A Activities
Hub International Limited is committed to growing organically and through acquisitions to expand its geographic footprint and strengthen industry and product expertise. For more information on the Hub M&A experience, visit WeAreHub.com.
About Hub International
Headquartered in Chicago, IL, Hub International Limited is a leading global insurance brokerage that provides property and casualty, life and health, employee benefits, investment and risk management products and services from offices located throughout North America. For more information, please visit hubinternational.com
Media: Marni Gordon
M&A: Clark Wormer
Photo courtesy of Hub International Ltd