Hub scoops up two Alberta firms in latest acquisition

Hub International continued its M&A spree this week with the acquisition of two Edmonton-based firms – one a brokerage and the other a benefit and retirement consulting firm.

The Chicago-based global brokerage Tuesday acquired BenefitLink Resource Group Edmonton Holdings Inc. (BenefitLink Resource Group), an independent benefit and retirement consulting firm. Jay Kemp, owner of BenefitLink Resource Group, will join Hub Barton and report to the senior executive team. BenefitLink focuses on simplifying the management of benefit and retirement plans.

“The move continues to reinforce Hub’s ongoing Canadian employee benefits growth and services strategy to assemble best-in-class capabilities and entrepreneurial talent across Canada to develop a complete employee benefits and pension solution,” Hub said in a press release.

One day later, Hub acquired independent insurance brokerage Berk Bilgen Insurance Ltd. Berk Bilgen Insurance offers personal and commercial insurance, including home, auto, life and travel.

The brokerage’s leadership team, Berk and Heather Bilgen, will be active in the transition of business to the Hub team, Hub said Wednesday.

In both acquisitions, terms of the transactions were not disclosed.

The acquisitions come on the heels of several other deals involving employee benefits firms or insurance brokerages in western Canada:

• On June 6, Hub announced the acquisition of Porchlight Financial, a Vancouver-based full-service group retirement plan consulting firm with 25 years of experience
• Hub purchased full-service independent brokerage Cottenie and Gardner Inc. on June 4. The Kamsack, Sask.-headquartered brokerage offers personal and commercial insurance, including home and auto insurance as well as real estate
• Calgary-based Clarity Benefits Group Inc. was acquired May 7. The independent, boutique-style firm provides employee benefit plans, life insurance and group retirement plans
• On May 6, Hub acquired the assets of Kelliher Agencies. Headquartered in the Saskatchewan village of the same name, Kelliher is a full service, independent insurance brokerage that places personal, commercial, farm and specialty products insurance.