H&F and Altas-backed Hub acquires Porchlight Financial

Hub International Ltd has acquired Porchlight Financial, a Vancouver-based full-service group retirement plan consulting business. No financial terms were disclosed. As a result of the deal, Porchlight Managing Director Chris Forman will join Hub. Hub, a Chicago-based insurance brokerage, said the acquisition reinforces its Canadian employee benefits growth and services strategy. Last year, Canadian long-term private equity firm Altas Partners acquired a significant minority stake in Hub, joining existing owner Hellman & Friedman (H&F).

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