Management of Navacord and Madison Dearborn Partners, a private equity firm based in Chicago, completed the management buyout of a minority stake in Navacord, a Canadian insurance brokerage. Financial terms were not disclosed. “Navacord’s management team and operating partners are excited about this transaction. MDP is a strong partner with deep insurance services expertise and shares our vision for success and ongoing value creation. Their investment in Navacord validates what we have built. We are looking forward to partnering with MDP to deepen our relationships with our clients, create more opportunities for our employees and continue to grow our company," T. Marshall Sadd, Navacord Executive Chairman and Co-Founder.