On September 15, 2022, Rogers Insurance Ltd. (“Rogers Insurance”) and CapriCMW merged to form Acera Insurance Services Ltd. (“Acera Insurance”). As part of the transaction, Clairvest Group Inc. and Clairvest Equity Partners VI made a C$100 million minority equity investment in Acera Insurance. The merger was also supported by credit facilities from the Royal Bank of Canada and the Bank of Montreal (the “Credit Facilities”).
As a result of the merger, Acera Insurance became one of the largest employee-controlled insurance brokerages in Canada with 1,000 employees and C$1 billion in gross written premium.
Fasken advised Rogers Insurance in connection with the merger and the Credit Facilities with a team comprised of Clarke Barnes, Perry Feldman, Jason Giborski, Blaine Bowman, Matthew Wilkins, Aman Marwaha, Gabriel Lam, Sarah Horsfall, Samuel Kalmakoff (Capital Markets and Mergers & Acquisitions), Jon J. Holmstrom, Gabrielle Motuz and Andrew Burt (Banking & Finance), Antonio Di Domenico (Competition, Marketing & Foreign Investment), A. Wojtek Baraniak and Craig Bellefontaine (Regulatory).