Hub International Ltd has acquired the shares of Les Avantages Sociaux Delta Inc, operating as The dElta Group, a Montréal-based brokerage that provides support and actuarial services for group insurance and retirement plans, as well as human resources and disability management. No financial terms were disclosed. The dElta Group, founded in 1998 by Chairman Roger d’Eschambault, will join Hub Québec as a result. Hub, a Chicago-based insurance brokerage, was bought by U.S. private equity firm Hellman & Friedman (H&F) for about US$4.4 billion in 2013.
Hub International Acquires The Shares Of Quebec-Based The dElta Group
CHICAGO, May 7, 2018 /PRNewswire/ — Hub International Limited (Hub), a leading global insurance brokerage, announced today that it has acquired the shares of Les Avantages Sociaux Delta Inc., operating as The dElta Group. Terms of the acquisition were not disclosed.
With offices in the greater Montreal area, The dElta Group is a multidisciplinary benefits brokerage that provides support and actuarial services for group insurance and retirement plans, as well as human resources and disability management, for mid-size and large businesses in Canada. The company is the result of an amalgamation of Les Advantages Sociaux Delta Inc., Ressources Humaines Delta Inc., and Le Groupe Financier Tanner-Deland Inc.
“Since founding The dElta Group more than 20 years ago, our goal has always been to be a strategic employee benefits and HR partner for clients,” said Roger d’Eschambault, Founder and Chairman of The dElta Group. “By joining Hub, we gain scale and the infrastructure for tremendous growth given the multitude of additional resources and capabilities that exist within Hub. This will allow us to provide even more tailored benefits solutions for our clients while maintaining our highly personal approach to administering benefits and retirement plans.”
The dElta Group team will join Hub Quebec, and d’Eschambault will report to Stephen Blais, President of Hub Quebec.
“The dElta Group has earned a strong reputation in the employee benefits and retirement industry based on its experience, relationships with the pension plan providers in Canada and a client-centric approach to servicing hundreds of Canadian companies,” said Blais. “We’re excited to welcome The dElta Group team to Hub as they will strengthen our benefits and retirement offering throughout Canada.”
“We remain committed to acquiring firms that are focused on enhancing the client experience through a culture of collaboration and building a robust set of complimentary services that round out the benefits and HR experience for our clients,” said Mike Barone, Hub’s North American President of Employee Benefits. “The dElta Group is a great fit for our strategy, and we’re thrilled to welcome Roger and The dElta Group to Hub.”
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 (Hub) is a leading full-service global insurance broker providing property and casualty, life and health, employee benefits, investment and risk management products and services. From 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 hubinternational.com.
Media: Marni Gordon
M&A: Clark Wormer
Photo courtesy of The dElta Group