StoneRidge Insurance Brokers Acquires Safeway Insurance

SIB expands presence in Ontario

Ancaster, ON (Nov. 28, 2022) – SIB Corp., operating as StoneRidge Insurance Brokers (“SIB”), a leading independent provider of insurance and consulting services, whose platforms include an insurance brokerage, MGA/MGU, group benefits and an adjusting firm, has acquired Safeway Insurance and Financial Services Inc. (“Safeway”), expanding its personal and commercial insurance presence in the Greater Toronto Area.

Safeway founded in 1966, specializes in providing the consumer with a large selection of property casualty insurance products along with a variety of financial products such as life insurance and investment options. Safeway has been providing exceptional service and professional advice to customers in North York, Richmond Hill, Markham, Mississauga, and the Greater Toronto region.

“We are excited to be a part of the SIB family – this new beginning for Safeway will provide us access to additional markets, products and resources. We believe being part of SIB will allow us to meet our customers’ needs and offer competitive premiums to achieve the right solution,” said Phil Moonie, President of Safeway.

“We are extremely excited to partner with Phil and have Safeway as part of the SIB family. SIB has completed seven transactions so far in 2022, with another three transactions expected to close by the end of the year” said Ted Puccini, SIB’s CEO and President.

SIB continues to actively seek additional partnership and acquisition opportunities and is committed to growing organically and through investments across Canada.

About SIB

Headquartered in Ancaster, Ontario, with 57 partner locations, SIB operations include leading insurance brokerage(s), MGA/MGU, and adjuster and has been providing a full range of insurance, risk advisory, life and benefits services to businesses, associations and individuals since 1945. For more information on SIB’s partnership and investment approach, please visit stoneridgeinsurance.ca.

About CIVC Partners, LP

CIVC Partners is a Chicago-based private equity firm established in 1970 to provide growth capital to entrepreneurs and founders. Since 1989, CIVC has invested over $2.0 billion in 77 platforms, primarily as growth and buyout capital, along with founders and executives in middle-market companies mainly in the business services sector. CIVC Partners currently invests from CIVC Partners Fund VI. For more information, visit www.civc.com.

SOURCE: Stoneridge Insurance

Tags: Acquisition, Ontario, StoneRidge