Hub International Ltd has acquired BenefitLink Resource Group Edmonton Holdings Inc, an Edmonton-based benefit and retirement consulting business.
Terms weren’t disclosed. The seller was owner Jay Kemp, who will join Hub International Barton Insurance Brokers.
Hub, a Chicago-based insurance brokerage, said the acquisition reinforces its Canadian employee benefits growth and services strategy.
Last year, Canadian long-term private equity firm Altas Partners acquired a significant minority stake in Hub, joining existing owner Hellman & Friedman (H&F).
Hub International Acquires Alberta-Based BenefitLink Resource Group Edmonton Holdings Inc.
CHICAGO, July 2, 2019 /CNW/ — Hub International Limited (Hub), a leading global insurance brokerage, announced today that it has acquired BenefitLink Resource Group Edmonton Holdings Inc. (BenefitLink Resource Group). Terms of the transaction were not disclosed.
Located in Edmonton, Alberta, Canada, BenefitLink Resource Group is an independent benefit and retirement consulting firm, focused on optimizing expenditures, driving efficiencies, and simplifying the management of benefit and retirement plans.
“Businesses today need to proactively manage and navigate the ever-changing benefits and retirement landscape, which is why we’ve been building on our capabilities in these areas in Canada,” said David Moon, President of Hub International Barton Insurance Brokers, a division of Hub International Canada West ULC (Hub Barton). “BenefitLink Resource Group has the experience along with the resources, tools, and innovative proprietary products and services that will help us meet and exceed client expectations.”
Jay Kemp, Owner of BenefitLink Resource Group, will join Hub Barton and report to the senior executive team.
The move continues to reinforce Hub’s ongoing Canadian employee benefits growth and services strategy to assemble best-in-class capabilities and entrepreneurial talent across Canada to develop a complete employee benefits and pension solution.
“Hub is the ideal firm from which we can advise clients on a broad spectrum of employee benefit and retirement issues locally, nationally and globally,” said Mr. Kemp. “Our team looks forward to helping the firm grow in these areas, where the demand for these services continues to increase.”
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, Illinois, Hub International Limited is a leading full-service global insurance broker providing property and casualty, life and health, employee benefits, investment and risk management products and services. With more than 11,000 employees in offices located throughout North America, Hub’s vast network of specialists provides peace of mind on what matters most by protecting clients through unrelenting advocacy and tailored insurance solutions. For more information, please visit www.hubinternational.com.
Media: Marni Gordon
M&A: Clark Wormer