Acquisition broadens NFP’s Ontario base

NFP has acquired Rhodes & Williams Ltd. in a transaction that closed May 24, the company said in a press release.

The move expands NFP’s Ontario presence “and increases its P&C capabilities and scale across personal risk and commercial lines,” according to the release. NFP, a P&C broker, benefits consultant, wealth manager and retirement plan advisor, has 7,400 employees worldwide, of which more than 1,000 are in Canada.

Ottawa-based Rhodes & Williams has specialized in commercial and personal risk lines P&C, beginning in 1935. They’ve since grown to be one of the largest independently owned insurance brokerages in Ontario.

The company’s executive leadership team, including president Trent Young, and COO Cory Young, along with key partners and account executives will join NFP, as will all other shareholders and employees of Rhodes & Williams, the release said.

“This transaction will bring immense value to our clients by giving them access to additional markets and products, cross-border capabilities, and added expertise across NFP,” said Young. “We’re also looking forward to being part of NFP’s people-first culture, which creates opportunities for employees to grow and thrive.”

And, NFP noted, the acquisition aligns with its strategy to build a unified national platform to provide superior expertise and advice to clients.

“We’ve worked diligently to identify the right partner to expand our presence in Ottawa,” said John Haas, president of NFP in Canada. “[Rhodes & Williams’] excellent reputation, relationships and results across the region will accelerate our growth and bring additional value to NFP’s clients in Canada.”

Feature image by iStock.com/MarcoMarchi