In This Article:
CDPQ and Ares Invest in the Leading Independent Brokerage Firm
QUÉBEC, April 3, 2025 /CNW/ - Synex Business Performance (Synex), a rapidly growing player in the independent insurance brokerage sector across Canada, is proud to welcome two renowned institutional investors, the Caisse de dépôt et placement du Québec (CDPQ) and Ares Management Credit funds (Ares), as minority shareholders.
In less than five years, Synex has become one of the largest groups of insurance brokers in Canada, with more than twenty firms and over 700 employees, generating over $1 billion in annual premium volume. Thanks to its unique model, Synex has quickly developed a solid reputation and established strong relationships across the insurance industry, with both insurers and brokers.
The investment by CDPQ and Ares is expected to enable Synex to further accelerate its growth through acquisitions, strengthen its already well-established footprint across Canada, and penetrate new markets. The company aims to double its size in the coming years.
"More than ever, Synex is establishing itself as a leading player in insurance brokerage in Canada. We believe the support of CDPQ and Ares sends a strong signal: our model and vision work and are seeking to redefine the future of independent brokerage. We approach this new stage with great enthusiasm."
— Yan Charbonneau, President and Chief Visionary Officer of Synex
"With this transaction, CDPQ is supporting Synex in its ambitious growth plan through both equity and debt financing. We are proud to now stand alongside this Quebec-based player in its acquisition-driven expansion across Canada, together with Ares, a long-standing partner of CDPQ."
— Kim Thomassin, Executive Vice-President and Head of Québec, CDPQ
"We are excited to support Synex in further enabling the continued execution of their growth strategy. Our relationship with Synex underscores Ares' ability to combine our deep knowledge of the insurance sector with our ability to deliver scaled and flexible capital solutions."
— Scott Rosen, Partner at Ares
A Local Presence, A National Strength
Thanks to the strength of the group, Synex is able to offer diversified and competitive insurance products from a wide range of insurers. The client is thus at the heart of priorities, benefiting from objective advice, a wide choice of products, expertise, and an even more competitive offer. By combining the diversity of the offer with enhanced negotiating power through volume, Synex offers a rare balance between the agility of local firms and the advantages of a large group.