The Caisse de dépôt et placement du Québec has provided $8 million in funding to BFL Canada, the country’s largest independent commercial insurance broker.
Through this funding, BFL Canada will be in a position to continue growing, particularly through acquisitions.
“With this additional long-term capital, BFL Canada will be able to continue on its growth trajectory, thereby reaffirming its position as a leader in the Canadian brokerage industry,” says Normand Provost, executive vice-president, private equity, at the Caisse. “With this funding, we are supporting a company that capitalizes on innovative partnership practices to succeed in a competitive market.”
“We are very pleased to be able to count on la Caisse’s support to speed up our growth,” says Barry F. Lorenzetti, president, CEO and founder of BFL Canada. “We are looking forward to pursuing growth with a partner like la Caisse.”
Montreal-based BFL Canada has close to 500 employees working in 10 offices across Canada.
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