CIVC Partners Portfolio Company, StoneRidge Insurance Brokers, Grows Ontario Presence with Acquisition of Deerborne Insurance Inc.

ANCASTER, ON — SIB Corp., operating as StoneRidge Insurance Brokers (“SIB”), a leading independent provider of insurance and consulting services, has acquired Deerborne Insurance Inc. (“Deerborne”), expanding its personal and commercial insurance presence in Toronto, Ontario.

Deerborne Is a full-service insurance brokerage servicing clients throughout the Greater Toronto Area since 1966. “We are excited to be a part of the SIB family – we believe being part of SIB will allow us to continue to meet our customers’ needs and offer competitive premiums to achieve the right solution,” said Gus Cusimano, President of Deerborne.

“I have gotten to know Gus well and know that he will be a strong leader as SIB continues to look for opportunities to grow and expand our business across new product lines and regions. We feel fortunate to now call Gus our partner. This transaction demonstrates our focus on becoming a national broker” remarked Ted Puccini, SIB’s CEO and President.

SIB has completed six transactions so far in 2022, with another three transactions expected to close in the next 45 days” said Ted Puccini.  SIB continues to actively seek additional partnership and acquisition opportunities and is committed to growing organically and through investments across Canada.

 

About SIB

Headquartered in Ancaster, Ontario, with 57 partner locations, SIB operations include leading insurance brokerage(s), MGA/MGU, and adjuster and has been providing a full range of insurance, risk advisory, life and benefits services to businesses, associations and individuals since 1945.   For more information on SIB’s partnership and investment approach, please visit  www.stoneridgeinsurance.ca/partnerplatform.

 

About CIVC Partners, LP

CIVC Partners is a Chicago-based private equity firm established in 1970 to provide growth capital to entrepreneurs and founders. Since 1989, CIVC has invested over $2.0 billion in 76 platforms, primarily as growth and buyout capital, along with founders and executives in middle-market companies mainly in the business services sector. CIVC Partners currently invests from CIVC Partners Fund VI. More information on CIVC Partners and its portfolio companies can be found at www.civc.com.

 

Press Contact

Trevor Cruise

905-648-6767

Posted Under: Investment News