- Based in Toronto, Navacord is a commercial insurance brokerage and provider of group benefits, retirement and risk management solutions
- SeaFirst is the company’s fifth partnership in 2023
- Madison Dearborn invested in Navacord in 2018
Navacord Corp, a portfolio company of Madison Dearborn Partners, has acquired SeaFirst Insurance Brokers, a Brentwood Bay, British Columbia-based general insurance brokerage operating on the Saanich Peninsula and Gulf Islands.
No financial details of the transaction were disclosed.
Based in Toronto, Navacord is a commercial insurance brokerage and provider of group benefits, retirement and risk management solutions. SeaFirst is the company’s fifth partnership in 2023.
Madison Dearborn invested in Navacord in August 2018 to support a management-led buyout of its minority partner.
“To have SeaFirst select Navacord is a true testament to our partner model and demonstrates the success of our niche building strategy with their specialization in strata and commercial property lines,” said T. Marshall Sadd, executive chairman, Navacord, in a statement. “We are pleased to deepen our presence in Western Canada and expand our offerings to clients with Seafirst’s strong Lloyd’s of London relationship.”
Madison Dearborn is a Chicago-based private equity firm focused on buyout and growth equity investing.
If you do not receive this within five minutes, please try and sign in again. If the problem persists, please
email: subscriptions@peimedia.com.