Canada’s StoneRidge Insurance Brokers Acquires John Stark & Co.

SIB Corp., operating as StoneRidge Insurance Brokers (SIB), the Canadian provider of insurance and consulting services, has acquired John Stark & Co. (Stark), to expand its personal, commercial and life insurance offerings.

Founded in 1870, with offices in Barrie and Coldwater, Stark is a family owned and operated full-service insurance brokerage that services central and southern Ontario, Canada. Stark represents several insurance companies, ensuring it can provide personalized, quality insurance advice, ongoing policy maintenance and claims support to its customers.

Financial details of the transaction were not disclosed.

“After 150 years, we are excited to pass along ownership of Stark to SIB, who we believe will be able to continue understanding our customers’ needs and offer competitive premiums to achieve the right solution,” said Colin Stark.

“SIB has completed five transactions so far in 2021, including four joint venture transactions and one full acquisition, with another transaction expected to be completed by year end” said Ted Puccini, SIB’s CEO and president. “We hope to continue this momentum into 2022 with two transactions expected to close early next year.”

Stark is the eighth investment that SIB has made since partnering with CIVC Partners, LP, a private equity firm in November 2019. SIB continues to actively seek additional partnership opportunities and is committed to growing organically and through partnership investments across Canada and is actively seeking partnership/acquisition opportunities.

About SIB

Headquartered in Ancaster, Ontario, with 31 locations, StoneRidge’s platforms include an insurance brokerage, MGA/MGU, group benefits and an adjusting firm. Since 1945, the company has been providing a full range of insurance, risk advisory, life and benefits services to businesses, associations and individuals.

Source: SIB Corp.

Topics Mergers & Acquisitions Agencies Canada