MDP-backed Navacord buys Lyon & Butler Insurance Brokers

Navacord Corp has acquired Lyon & Butler Insurance Brokers, a Vaughan, Ontario-based brokerage specializing in the construction, commercial realty, transportation and retail sectors.

Navacord Corp has acquired Lyon & Butler Insurance Brokers, a Vaughan, Ontario-based brokerage specializing in the construction, commercial realty, transportation and retail sectors. No financial terms were disclosed. Toronto-based Navacord, a commercial insurance brokerage, is backed by Madison Dearborn Partners.


Toronto, ON, May 9, 2022 – Navacord is pleased to announce their latest partnership with Lyon & Butler Insurance Brokers Ltd, effective May 1, 2022.

The Vaughan-based brokerage has roots dating back to the late 1800s, before formally becoming Lyon & Butler Insurance Brokers Ltd. in 1931. With deep expertise in commercial insurance, Lyon & Butler specializes within the construction, commercial realty, transportation, and retail sectors.

“Partnering with Navacord feels like a fresh chapter for Lyon & Butler,” says Ray Arndt, President, Lyon & Butler. “It will allow us to amplify the assets we’ve worked tirelessly to cultivate within our business—our dedicated, talented team and our robust relationships with markets and clients—while evolving and setting the stage for the next generation of leadership.”

Lyon & Butler will work closely with, and be supported by a fellow Navacord Broker Partner, Paisley Partners Inc. with Corey and Megan Arndt leading the day-to-day business operations. Sharing leadership across two like-minded businesses promotes Navacord’s collaborative, entrepreneurial culture while maintaining the distinct identity of Lyon & Butler’s multigenerational local brokerage.

“Our brokerages are very similar in our history, our principles and our value proposition,” says Ewen Cameron, President & CEO, Paisley Partners. “I look forward to supporting their legacy and mentoring the next generation as they continue to bring customized and exceptional risk management solutions to clients.”

With clients across the Greater Toronto Area, Lyon & Butler has differentiated itself with their devoted staff who reflect their trademark work ethic and commitment to client service. The brokerage prides itself on the strong and trusted reputation they’ve built within Vaughan and its surrounding communities.

“Lyon & Butler’s niche approach and deep roots within the regions they serve align well with our areas of expertise,” says Shawn DeSantis, President and CEO, Navacord. “We look for strong entrepreneurs and strong collaborators—Lyon & Butler are both, and they bring an exciting history and vision that we know we can support and grow as part of Navacord.”
The addition of Lyon & Butler marks Navacord’s seventh partnership in four months.

About Navacord

Founded in 2014 and headquartered in Toronto, Ontario, Navacord is one of Canada’s top four commercial insurance brokerages. With $3 billion in premiums, Navacord stands as a leader in group insurance and risk management solutions. From commercial and personal insurance to surety, employee benefits and retirement consulting, Navacord leverages national strength and resources with the local-touch service of industry-specialized Navacord Broker Partners to deliver the trusted advice, expertise and custom insurance solutions clients need to face the future with confidence.

With a unique ownership model and value proposition, Navacord is the preferred partner for entrepreneurial insurance brokerages seeking to grow as a part of something bigger, while maintaining their distinct identity and culture.

About Lyon & Butler Insurance Brokers Ltd.

With over 85 years as an independent brokerage and leader in the Ontario insurance industry, the focus of Lyon & Butler has been and always will be on making sure clients receive the best service possible. Lyon & Butler’s staff get to know their clients and their business, recommend the right coverages to suit their needs, and provide expert advice, knowledge, and support to them when their insurance needs change.