Madison Dearborn to back buyout of insurer Navacord
Toronto-based insurance brokerage Navacord Inc has agreed to a management-led buyout of its minority partner with the support of U.S. private equity firm Madison Dearborn Partners. No financial terms were released for the deal, which is expected to close in Q3 2018. Founded in 2014, Navacord partners with regional brokers offering capabilities in commercial property and casualty insurance and employee benefits consulting. It trades under nine brands in Ontario, Alberta and British Columbia. The company said Madison Dearborn's investment will accelerate its organic growth and the addition of future broker partners in Canada.
4 July 2018•4 mins read
