From Yahoo Finance: 2025-04-14 11:06:00

A consortium led by Ethos Capital, British Columbia Investment Management, and White Mountains will acquire ownership in insurance brokerage BroadStreet Partners. The financial terms are undisclosed. Ontario Teachers’ Pension Plan, who acquired a majority stake in 2012, will retain a co-control stake with the new investor group.

BroadStreet Partners specializes in commercial and personal property & casualty and employee benefits. They have a collaborative model with Core Agency Partners, providing resources to support independent insurance agencies. The company’s co-ownership structure involves more than 800 colleagues who hold equity in their respective Core Agencies.

The new partnership is expected to strengthen BroadStreet’s long-term strategy, including further investments in technology and digital transformation. BroadStreet CEO Mike O’Connor emphasized the company’s unique co-ownership model and partnership with successful entrepreneurs. The collaboration with Ethos, BCI, and White Mountains aims to enhance capabilities and drive growth.

BroadStreet operates in all 50 US states and all ten Canadian provinces. Advisory services for the transaction were provided by Ardea Partners as the lead financial advisor to Ontario Teachers’ and BroadStreet, with additional support from RBC Capital Markets and BMO Capital Markets. Legal counsel was provided by various firms representing the different parties involved in the transaction.

Read more: Ethos Capital-led consortium to take ownership position in BroadStreet