SIB Corp, operating as StoneRidge Insurance Brokers, has acquired John Stark & Company, a Barrie and Coldwater, Ontario-based full-service insurance brokerage. No financial terms were disclosed. SIB, an Ancaster, Ontario-based provider of insurance and consulting services, has been backed by CIVC Partners since 2019.
LANCASTER, ON, Dec. 13, 2021 /CNW/ — SIB Corp., operating as StoneRidge Insurance Brokers (“SIB”), a leading independent provider of insurance and consulting services, whose platforms include an insurance brokerage, MGA/MGU, group benefits and an adjusting firm, has acquired John Stark & Company (“Stark”), to expand its personal, commercial and life insurance offerings.
Founded in 1870 and with offices in Barrie and Coldwater, Stark is a family owned and operated full-service insurance brokerage servicing central and southern Ontario. Stark represents several insurance companies, ensuring it can provide personalized, quality insurance advice, ongoing policy maintenance and claims support to its customers.
“After 150 years, we are excited to pass along ownership of Stark to SIB, who we believe will be able to continue understanding our customers’ needs and offer competitive premiums to achieve the right solution,” said Colin Stark.
“SIB has completed five transactions so far in 2021, including four joint venture transactions and one full acquisition, with another transaction expected to be completed by year end” said Ted Puccini, SIB’s CEO and President. “We hope to continue this momentum into 2022 with two transactions expected to close early next year.”
Stark is the eighth investment that SIB has made since partnering with CIVC Partners, LP, a private equity firm (www.civc.com), in November 2019. SIB continues to actively seek additional partnership opportunities and is committed to growing organically and through partnership investments across Canada and is actively seeking partnership/acquisition opportunities.
Headquartered in Ancaster, Ontario, with 31 locations, StoneRidge is a leading independent insurance brokerage, MGA/MGU, and adjuster and has been providing a full range of insurance, risk advisory, life and benefits services to businesses, associations and individuals since 1945. For more information on SIB’s partnership and investment approach, please visit www.stoneridgeinsurance.ca/partnerplatform.