MDP-backed Navacord acquires Demers Insurance

Navacord Corp has acquired Demers Insurance Ltd, a Bonnyville, Alberta-based provider of personal and small business insurance. Terms weren't released for the deal, which follows Navacord's acquisition of Future Benefits Management Inc, announced earlier this week. Demers Insurance, sold by owner Guy Demers, will operate as a division of Lloyd Sadd Insurance, a Navacord founding broker. Navacord, a Toronto-based commercial broker, in 2018 undertook a management-led buyout of its minority partner with the support of U.S. private equity firm Madison Dearborn Partners (MDP).

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