Contact

t. 416 929 2678
Adelaide Place,
Suite 1414,
181 University Ave
Toronto, Canada
M5H 3M7
info@alexandercapital.ca


Coin

Experience - Noraxis

Noraxis

On May 19, 2014, RSA Insurance Group plc announced the sale of Noraxis Capital Corporation ("Noraxis"), its Canadian insurance brokerage business, to Arthur J. Gallagher & Co. for an aggregate price of CAD 500 million. Alexander Capital Group advised the minority shareholders of the Noraxis brokerage subsidiaries in this transaction.

Noraxis is one of Canada's largest P&C insurance brokers providing commercial, personal and employee benefits insurance products and services. It operates through six majority-owned business entities: Atrens-Counsel Insurance Brokers, Renfrew Insurance Brokers, BF&G Insurance, CG&B Group, Ranger Insurance Brokers, and Stevenson & Hunt Insurance Brokers. Management employees of these six entities owned significant equity interests in their respective operations (the "Minority Shareholders")

Arthur J. Gallagher is an international brokerage and risk management services firm headquartered in Itasca, Illinois with operations in 25 countries offering client-service capabilities in more than 140 countries around the world through a network of correspondent brokers and consultants.

The acquisition of Noraxis gives Gallagher a solid platform for growth in the Canadian market. On completion of the transaction, Gallagher will own the majority of Noraxis with the remainder owned by the Minority Shareholders, who elected to re-invest a significant portion of the proceeds from the sale of their minority interests in their respective entities back into Noraxis.

Alexander Capital Group was retained by the Minority Shareholders to represent their interests in the transaction negotiations.

« Back