Toronto’s Sterling Capital Brokers Ltd. is acquiring Vancouver’s Barclay Insurance Services Inc.
Founded in 1990 by Eric Barclay, Barclay Insurance Services focuses on small- to medium-size businesses, developing cost-effective strategies to support plan sponsors in the employee benefits, group retirement and individual insurance space in British Columbia. “We are excited and proud to be the newest addition to the SCB family,” said Barclay in a press release.
Founded in 2014, Sterling Capital is an independent benefits consulting firm that also specializes in servicing small- to medium-sized employers. The acquisition further expands Sterling Capital’s footprint in Western Canada following its merger with Victoria-based Adamek Financial, a boutique benefits consulting firm, in August 2021 and Red Deer, Alta.-based Riverview Insurance Solutions in May 2021. The organization also absorbed Halifax-based Luedey Consultants Inc. in February 2021, which expanded its presence out East.
“Our business continues to grow . . . with organic client acquisitions outpacing all previous years, coupled with a total of seven mergers in 2021,” said Stefan Ionescu, Sterling Capital’s co-founder and global head of sales, in the release. “Sterling is excited to continue our national growth as we add team Barclay to our growing family.”