BroadStreet Partners Secures Strategic Investment to Boost Growth and Digital Transformation
BroadStreet Partners, a leading middle-market insurance brokerage, has secured a strategic investment from a consortium including Ethos Capital, British Columbia Investment Management Corporation (BCI), and White Mountains Insurance Group. This investment aims to enhance BroadStreet's co-ownership model and accelerate its digital transformation initiatives, reinforcing its position in a competitive insurance market. BroadStreet maintains its collaboration with independent insurance agencies, known as Core Agency Partners, providing M&A support and fostering organic growth opportunities. Ontario Teachers' Pension Plan continues as a major co-controlling stakeholder, indicating sustained confidence in BroadStreet's business model. The transaction was facilitated by financial advisory services from Ardea Partners, RBC Capital Markets, and BMO Capital Markets, with legal expertise provided by Latham & Watkins LLP and Torys LLP, ensuring structured execution. White Mountains Insurance Group, a publicly traded Bermuda-based financial services entity, strengthens its commitment to strategic insurance investments through this deal.