PE-owned Hub International acquires Tri-Line Agencies

Hub International Ltd has acquired Tri-Line Agencies Inc, a Rose Valley, Saskatchewan-based insurance brokerage offering personal and commercial solutions, including automobile and farming solutions. No financial terms were disclosed for the deal, which will see Tri-Line's owner, Eugene Danko, join Hub Manitoba. Last month, Canadian long-term private equity firm Altas Partners agreed to acquire a minority stake in Hub, a Chicago-based insurance company. Hellman & Friedman, which acquired Hub in 2013 for about US$4.4 billion, will remain the largest shareholder.

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