Clairvest Group Inc. has agreed to sell its minority interest in Acera Insurance Services Ltd. as part of Acera's merger with Navacord Corp., aimed at enhancing market presence and operational capabilities.

Information on the Target

Acera Insurance Services Ltd. ("Acera") is a leading independent insurance brokerage in Canada, which emerged from the merger and recapitalization of Rogers Insurance and CapriCMW in September 2022. The company now employs over 750 employee shareholders and specializes in providing property and casualty insurance as well as group benefits solutions for both commercial and personal clients. Under Clairvest Group Inc.’s ownership over the past three years, Acera has witnessed remarkable growth, with a 70% increase in EBITDA and the successful completion of 24 tuck-in acquisitions.

Industry Overview in Canada

The Canadian insurance industry is characterized by its competitive landscape, with a blend of both established players and emerging independent brokerages. As one of the largest markets in Canada, the industry provides both personal and commercial insurance products tailored to diverse client needs. The rising demand for innovative insurance solutions has encouraged brokerages to enhance their service offerings, focusing on client-centric approaches and digital transformation.

Over the years, the industry has seen robust growth driven by factors such as an increase in insured assets and a heightened emphasis on risk management. This bodes well for companies like Acera, which have effectively integrated techno