Madison Dearborn-backed Navacord buys Alberta's BCI
Toronto-based commercial broker Navacord Corp has acquired Benefit Consultants Inc (BCI), an Edmonton-based benefits and retirement consulting company, for an undisclosed amount. Founded in 1975 by Wayne Smith, BCI will now form part of Lloyd Sadd Insurance Brokers, a Navacord broker partner. Its management team will continue to be led by Darcy Smith. Navacord said the deal, which follows last month's purchase of Future Benefits Management Inc, will give it a group benefits and retirement presence in Western Canada. In 2018, Navacord undertook a management-led buyout of its minority partner with the support of U.S. private equity firm Madison Dearborn Partners (MDP).
3 July 2019•3 mins read
