Description of Transaction
Sequeira Partners was engaged by Foster Park to assist with identifying the best-fit partner to provide both liquidity for some shareholders and a platform for future growth of the business.
The Sequeira team provided advisory assistance throughout the transaction including initial valuation analysis, marketing the business to potential acquirors, negotiating preliminary and final deal terms, transaction structure and consideration, as well as assisting with due-diligence and other pre-closing matters.
The sale to NFP will allow Foster Park to continue its growth by leveraging the national resources of one of North America’s largest and fastest growing insurance brokers, while maintaining the people-first culture that has driven its success to date.
Foster Park is one of Western Canada’s largest independent insurance brokerages. Foster Park was founded over 40 years ago with the intent to build a prominent insurance brokerage committed to its people and a values-driven culture. Today, the Company has 135 employees in four offices (Edmonton, Calgary and Grande Prairie, Alberta, and Langley, British Columbia) who provide expertise and solutions in commercial and individual P&C insurance, life and group benefits, private client services, and bonding and surety to clients across Western Canada.
NFP is a leading insurance broker and consultant providing specialized business and personal insurance, group benefits, retirement and individual solutions through its licensed subsidiaries and affiliates. NFP enables client success through the expertise of over 800 employees based in Canada, more than 6,000 employees globally, investments in innovative technologies, and enduring relationships with highly rated insurers, vendors and financial institutions. NFP is the 5th largest benefits broker by global revenue (Business Insurance), 10th largest property and casualty agency (Insurance Journal), and 13th largest global insurance broker (Best’s Review).