Ethos Capital-led consortium to take ownership position in BroadStreet

A consortium of investors led by Ethos Capital, British Columbia Investment Management and White Mountains has agreed to get an ownership presumption successful security brokerage BroadStreet Partners.

The fiscal presumption of the statement stay undisclosed.

Ontario Teachers' Pension Plan acquired a bulk involvement successful BroadStreet successful 2012 and volition clasp a co-control stake, continuing its concern with the caller capitalist group.

BroadStreet Partners specialises successful commercialized and idiosyncratic spot & casualty and worker benefits and is known for its collaborative exemplary with Core Agency Partners.

This exemplary involves BroadStreet's proviso of resources, tools and expertise to enactment the maturation and show of these autarkic security agencies.

The company's co-ownership operation involves much than 800 colleagues who clasp equity successful their respective Core Agencies.

The caller concern is expected to fortify BroadStreet's semipermanent strategy, which includes further investments successful exertion and integer transformation.

BroadStreet CEO Mike O’Connor said: “BroadStreet is uniquely positioned arsenic the spouse of prime for palmy entrepreneurs seeking caller avenues for growth. Our differentiated co-ownership exemplary and proven strategy empower our 30 Core Agency Partners to standard their businesses with confidence.

“For implicit a decade, the Ontario Teachers’ squad has been a value-added spouse to us. We are excited to proceed this collaboration and present articulation forces with Ethos, BCI and White Mountains, leveraging their corporate expertise to heighten our capabilities and thrust sustained growth.”

BroadStreet has operations crossed each 50 US states and each 10 Canadian provinces.

Advisory services for the transaction were provided by Ardea Partners arsenic the pb fiscal advisor to Ontario Teachers' and BroadStreet, with RBC Capital Markets and BMO Capital Markets arsenic co-advisors.

Legal counsel was provided by Latham & Watkins and Torys for Ontario Teachers' and BroadStreet, Kirkland & Ellis for Ethos Capital, Debevoise & Plimpton for BCI, and Cravath, Swaine & Moore for White Mountains.

"Ethos Capital-led consortium to instrumentality ownership presumption successful BroadStreet " was primitively created and published by Life Insurance International, a GlobalData owned brand.

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