Hub International Ltd has acquired the employee benefits practice of Rise People Inc, a Vancouver-based provider of human resources, payroll and benefits administration solutions.
No financial terms were disclosed.
Hub, a Chicago-based insurance brokerage, said the deal supports its Canadian employee benefits and pension consulting growth strategy.
Last month, Canadian long-term private equity firm Altas Partners closed a minority investment in Hub, joining existing owner Hellman & Friedman.
Hub International Acquires The Employee Benefits Practice Of Vancouver-Based Rise People Inc.
CHICAGO, Dec. 17, 2018 /PRNewswire/ — Hub International Limited (Hub), a leading global insurance brokerage, announced today that it has acquired the employee benefits practice of Rise People Inc. (Rise). Moving forward, Hub will also work with Rise to bring Rise’s human resources, time tracking, payroll and benefits administration solution to Hub’s Canadian employee benefits clients.
Headquartered in Vancouver, British Columbia, Canada, Rise has built a strong reputation in employee benefits as well as a modern suite of human resources, payroll and benefits administration solutions used by many employers across Canada.
After an extensive review of a number of opportunities, Rise chose Hub to acquire its employee benefits practice to provide its client base with employee health and retirement savings advice while Rise accelerates the development of its fully integrated platform to simplify administration and fuel employee engagement. This move further demonstrates and is a testament to Hub’s ongoing Canadian employee benefits and pension consulting growth strategy to assemble best-in-class capabilities and entrepreneurial talent across Canada.
Jesse McNeil, Director of Group Benefits at Rise People, will join Hub TOS reporting to Faizal Mitha, Chief Innovation Officer of Canadian Employee Benefits at Hub.
Terms of the transaction were not disclosed.
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 full-service global insurance broker providing property and casualty, life and health, employee benefits, investment and risk management products and services. With more than 11,000 employees in 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 www.hubinternational.com.
Media: Marni Gordon
M&A: Clark Wormer