Navacord Corp. is acquiring Ontario-based firms Selectpath Benefits and Financial Inc. and ProBenefits Consulting Inc., more than doubling its benefits revenue.
With a strong presence in Ontario’s southwest, Selectpath specializes in benefits and pension solutions for the hospital and health-care sectors, as well as a wide range of industries including transportation, automotive dealerships, technology and manufacturing.
“Selectpath deepens our leadership and expertise and expands on our multi-line approach with a broader scope of products and services,” said Shawn DeSantis, president and chief executive officer, in a press release. “The Selectpath team brings significant new capabilities in financial planning, human resources management, [human resources information services] and payroll — something not many other brokers can offer.”
ProBenefits, also based in Ontario, specializes in designing customized and sustainable benefits and pension plans using a proprietary audit and disciplined cost-containment strategy. The addition of ProBenefits also broadens Navacord’s benefits and pensions business in the Toronto area.
“Navacord continues to attract strong, like-minded brokers who wish to partner with a national organization to scale or build out their service offerings while maintaining their unique brand, culture and autonomy,” said T. Marshall Sadd, executive chairman at Navacord, in the release. “We’re happy to welcome the Selectpath and ProBenefits teams to Navacord as we continue to expand and enhance our benefits business.”