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Penfund completed a $100m investment in OTPP-backed BroadStreet Partners.

Financials

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Transaction ValueÂŁ79m
Consideration TypeCash
Capital Owned-
Capital Bid For-
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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United States

Minority

Single Bidder

Private

Completed

insurance brokerage

Acquisition

Friendly

Insurance Brokers

Private Equity

Synopsis

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Penfund, a fund management company in Toronto, completed a $100m investment in OTPP-backed BroadStreet Partners, an insurance brokerage holding company headquartered in Columbus, Ohio. "We are delighted to partner with Ontario Teachers’ and support the continued growth of BroadStreet. We believe there is considerable white space remaining for the company to keep executing on its differentiated consolidation strategy while delivering value to insurance carriers and clients," Joe Mattina, Penfund Partner.

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