Hub International Ltd, a portfolio company of U.S. private equity firm Hellman & Friedman (H&F), has acquired the shares of GMS Insurance (SWO) Inc, a Kitchener, Ontario-based benefit consulting firm that services clients in Southwestern Ontario and Toronto. No financial terms were disclosed. Hub, a global insurance brokerage with significant operations in Canada, was bought by H&F for about US$4.4 billion in October 2013. The company has its headquarters in Chicago.
Hub International Acquires The Shares Of Ontario-Based GMS Insurance (SWO) Inc.
CHICAGO, March 2, 2018 /PRNewswire/ — Hub International Limited (Hub), a leading global insurance brokerage, announced today that it has acquired the shares of GMS Insurance (SWO) Inc. (GMS Insurance). Terms of the acquisition were not disclosed.
Based in Kitchener, Ontario, GMS Insurance is an independent benefit consulting firm that services clients in Southwestern Ontario and the greater Toronto area. GMS Insurance provides a complete solution for its clients’ retirement and employee benefit needs by bringing expertise and leveraging carrier relationships to guide corporate teams in achieving their plan objectives. GMS Insurance engages a number of consultants who specialize in different markets for companies ranging from small start-ups to large national or international corporations.
GMS Insurance will join Hub Ontario and Jonathan Shantz, President of GMS Insurance, will report to Greg Belton, Executive Chairman of HUB Ontario.
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 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