Novacap Financial Services, a leading Canadian private equity firm, announced the sale of AGA Benefit Solutions, a leading player in the Canadian group insurance and pension sector, to TA Associates.
AGA Benefit Solutions is a Canadian leader in the development and administration of customized group insurance plans and group retirement plans and one of the country’s largest employee benefits providers. Founded more than 45 years ago, AGA Benefit Solutions serves today more than 2,700 clients, supports over 200,000 members with the management and adjudication of their claims, and boasts over $1 billion in premiums and group retirement assets under management.
Novacap invested in the business in 2020 out of its inaugural financial services fund. This initial investment was a catalyst for a significant transformation of AGA from a regional service provider to a leading national entity. This transaction illustrates Novacap’s strategy of investing in companies with high growth potential and working alongside them to transform them into leaders in their industries.
Fasken advised AGA Benefit Solutions in this transaction with a team composed of Michel Boislard, Cristel Chabot-Lapointe, Anthony Sylvain, Aurélie Ménard, Carolina Fusco (paralegal) (M&A), Alain Ranger, Quentin Lageix (Tax), Martin Racicot, Svetlana Samochkine, Marwan El-Sayegh (Banking), and Lina Bensaidane (Intellectual Property).
Jurisdiction
- Québec
