Hub International Ltd, a portfolio company of U.S. private equity firm Hellman & Friedman (H&F), has acquired the shares of Windsor, Ontario-based The Benefits Company Inc (TBC), an insurance broker that specializes in group benefits, pensions and retirement plans. No financial terms were disclosed for the deal, which will see TBC’s operations joined with those of Hub Ontario. A global insurance brokerage with significant operations in Canada, Hub was acquired by H&F for about US$4.4 billion in 2013. The company has its headquarters in Chicago.
Hub International Acquires The Shares Of Ontario-Based The Benefits Company, Inc.
CHICAGO, April 3, 2018 /CNW/ — Hub International Limited (Hub), a leading global insurance brokerage, announced today that it has acquired the shares of The Benefits Company, Inc. (TBC). Terms of the acquisition were not disclosed.
Headquartered in Windsor, Ontario, TBC assists and guides its clients through the various phases of all their benefit and retirement programs. Its team of elite advisors represents some of Ontario’s most prestigious companies by helping them to realize their financial and business goals.
“The addition of TBC will greatly strengthen our retirement and benefits operations in Ontario,” said Greg Belton, Executive Chairman of Hub Ontario. “This partnership will benefit all of Hub Ontario’s clients and ensure client satisfaction is measured by both companies’ high level of service, continuous development of innovative concepts, and the relentless pursuit for the best solutions.”
TBC will join Hub Ontario, and Rob Tamblyn, President of TBC, will report to Belton.
“Joining Hub allows TBC to leverage the resources of one of North America’s largest insurance brokers and enhance our dedication to exceptional, consistent client services,” said Tamblyn. “By granting us access to Hub’s robust suite of benefit solutions, we’ll offer clients even more opportunities through additional products combined with our superior customer service and effective planning.”
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