Investment Summary

BroadStreet Partners Invests In Westland Insurance

On April 17, 2023, BroadStreet Partners invested in insurance company Westland Insurance from Blackstone Credit

Investment Highlights
  • This is BroadStreet Partners’ 2nd transaction in the Insurance sector.
  • This is BroadStreet Partners’ 1st transaction in Canada.
  • This is BroadStreet Partners’ 1st transaction in British Columbia.

Investment Summary
Date 2023-04-17
Target Westland Insurance
Sector Insurance
Investor(s) BroadStreet Partners
Sellers(s) Blackstone Credit
Deal Type Stake Purchase
Advisor(s) Evercore Group (Financial)
Stikeman Elliott (Legal)

Target

Westland Insurance

Surrey, British Columbia, Canada
Westland Insurance is an innovator, engages in personal and commercial insurance products. Westland Insurance was founded in 1980 and is based in Surrey, British Columbia.

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Investor(S) 1

Investor

BroadStreet Partners

Columbus, Ohio, United States
Category Company
Founded 2001
Sector Insurance
DESCRIPTION

BroadStreet Partners is an insurance brokerage holding company that invests in select, entrepreneurial, high-performing independent agencies that are seeking support for continued growth and a solution for ownership succession. BroadStreet uses a unique co-ownership model that allows its partners to fully participate in the financial rewards of the value they create. BroadStreet Partners was founded in 2001 and is based in Columbus, Ohio.

DEAL STATS #
Overall 2 of 2
Sector (Insurance) 2 of 2
Type (Stake Purchase) 1 of 1
State (British Columbia) 1 of 1
Country (Canada) 1 of 1
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-11 Bearence Management Group

West Des Moines, Iowa, United States

Bearence Management Group is an insurance brokerage and financial services firm engaged in the sale and distribution of property and casualty, life and health, employee benefits, investments and risk management products and services.

Buy -

Seller(S) 1

SELLER

Blackstone Credit

Investor Investor Investor Investor Investor

Category Lender
Founded 2004
Size Mega
Type Sector Agnostic
DESCRIPTION

Blackstone Credit is the lending arm of alternative asset management firm The Blackstone Group. Blackstone Credit looks to provide a variety of capital needs, including loans, high yield and investment grade bonds, structured credit, mezzanine lending, and opportunistic financings. The Blackstone Group acquired lender GSO Capital Partners in 2008 which formed the foundation for Blackstone Credit. Blackstone Credit is based in New York City.

DEAL STATS #
Overall 11 of 11
Sector (Insurance) 1 of 1
Type (Stake Purchase) 1 of 1
State (British Columbia) 1 of 1
Country (Canada) 1 of 1
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-20 ELC

Savannah, Georgia, United States

ELC is an LNG liquefaction facility located near Savannah, Georgia. ELC began full commercial operations in August 2020 and is comprised of 10 Movable Modular Liquefaction Units with a nameplate capacity of approximately 2.5 million tons per annum of liquefied natural gas (LNG) for export, which is equivalent to approximately 350 million cubic feet (MMcf) per day of natural gas.

Buy -
Mergr

Product

Company

Legal