Coaticook, Quebec-based insurance company Groupe SFGT has acquired Maestro Groupe Financier, a Quebec City-based financial and investment consultancy. No financial terms were disclosed. The deal was backed by undisclosed debt financing provided by Fondaction. Laurentian Bank also participated.
Fondaction supports Groupe SFGT in the acquisition of Maestro Groupe Financier, confirming its position as a leading general agent
Coaticook, May 25, 2021 – Groupe SFGT, general agent in the field of life and health insurance and savings products, announces the acquisition of Maestro Groupe Financier, of Quebec. With this transaction, made possible thanks to the financial support of Fondaction, the Coaticook company continues to grow and enrich its expertise.
“For the SFGT Group, this acquisition makes it possible to anchor itself in a strategic sector, to expand its administrative team, to solidify its relationship with important insurers for the group and to double its volume of annual premiums in personal insurance. It’s a great opportunity to share our expertise and offer complementary products and services, ”says Caroline Thibeault, Managing Director of Groupe SFGT and one of the two women at the head of the company, which has four partners.
Focus on the complementarity of strengths and a common culture
The first objective pursued by the SFGT Group will be to consolidate and solidify the links with the advisers of the two firms whose cultures are already harmonizing. The quality of human relations, stability, integrity and the sharing of experience are indeed values common to both teams. The acquisition did not result in any layoffs and the organizational structure of the two firms remained as is in order to promote the best unification.
According to Mario Couture, former CEO of Maestro who remains with the group, “it is in a spirit of sustainability that the transaction was concluded. It was important for us to find a partner who would respect the agreements and continue to offer similar service and values to our advisors. The SFGT Group has a management that places people at the center of decisions and we firmly believe that our team of advisors will be happy in this new structure ”.
Fondaction, much more than a lender
Caroline Thibeault is delighted that the family business has been able to count on Fondaction’s support to take this new stage in its growth: “For us, the Fund is more than a lender. He shares his expertise and allows us to benefit from a network of contacts and mutual assistance of hundreds of companies. The synergy between our respective teams is beyond expectations and pushes the SFGT Group to quickly reach unexpected levels, ”predicts the financial security advisor.
“As a labor-sponsored fund, which itself operates in the savings market, Fondaction has a good understanding of the markets in which Groupe SFGT is positioned,” underlines Dominique Chaussé, Deputy Head of Investment at Fondaction. Our investment aims to support teams well established in their community, whose expertise constitutes added value for financial security advisers and their large clientele. There is no doubt that this network will make the SFGT Group a leading general agent in Quebec. ”
Laurentian Bank also participated in the transaction. “A dedicated and present bank for entrepreneurs who, like Fondaction, has recognized the potential and business opportunity of the SFGT Group,” underlines Caroline Thibeault.
About SFGT Group
Groupe SFGT is a one-stop-shop for all the products and services necessary for a complete financial analysis (services to individuals and business solutions). Before the acquisition, the SFGT Group already assembled alongside its management a team of more than 75 independent advisers and an administrative team of 10 people. This family business has been acting as a general agent since 2002. The influence of Groupe SFGT, whose offices are located in the Coaticook region, covers almost all of Quebec. Involved in its community, SFGT stands out for its qualified staff, its passion for a job well done and the integrity of its customer service.
A pioneer for 25 years, Fondaction is the investment fund for those who mobilize for the positive transformation of the Quebec economy. To make our economy more efficient, fairer, more inclusive and greener. As a labor-sponsored fund, Fondaction represents tens of thousands of savers and hundreds of companies committed to advancing Quebec. He manages net assets that total more than $ 2.6 billion invested in hundreds of companies and in the financial markets, favoring investments that generate positive economic, social and environmental impacts in addition to financial returns. Fondaction helps maintain and create jobs, reduce inequalities and fight climate change.fondaction.com or our LinkedIn page .
* The management team of Groupe SFGT Gaétan Lacelle, partner; Gérald Thibeault, founding president; Caroline Thibeault, general manager and partner; Jacynthe Thibeault and David Thibeault, partners.