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M&A Deal Summary

iA Financial Acquires RF Capital Group

On July 28, 2025, iA Financial acquired financial services company RF Capital Group for 597M CAD

Acquisition Highlights
  • This is iA Financial’s 2nd transaction in the Financial Services sector.
  • This is iA Financial’s 0th largest (disclosed) transaction.
  • This is iA Financial’s 3rd transaction in Canada.
  • This is iA Financial’s 2nd transaction in Ontario.

M&A Deal Summary
Date 2025-07-28
Target RF Capital Group
Sector Financial Services
Buyer(s) iA Financial
Deal Type Add-on Acquisition
Deal Value 597M CAD
Advisor(s) CIBC Capital Markets (Financial)
Goodmans
Stikeman Elliott (Legal)

Target

RF Capital Group

Toronto, Ontario, Canada
RF Capital Group is an independent diversified financial services provider offering a wide range of financial products and services to a global client base that includes corporate clients, institutional investors, and high-net-worth individuals in two integrated reporting segments. RF Capital Group was founded in 1995 and is based in Toronto, Canada.

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Buyer(S) 1

Buyer

iA Financial

Quebec City, Quebec, Canada
Category Company
Founded 1892
Sector Insurance
Employees7,000
Revenue 3.8B CAD (2024)
DESCRIPTION

iA Financial a life and health insurance company, operates in the insurance and financial services sectors. iA Financial was incorporated in 1892 and is based in Quebec, Canada.

DEAL STATS #
Overall 6 of 6
Sector: Financial Services M&A 2 of 2
Type: Add-on Acquisition M&A Deals 6 of 6
State: Ontario M&A 2 of 2
Country: Canada M&A 3 of 3
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-03 Vericity

Chicago, Illinois, United States

Vericity is a direct-to-consumer life insurance solutions. As an innovator in product design and distribution, the company makes life insurance affordable and accessible for middle-market consumers. With national call centres, digital and digitally enabled sales and underwriting processes and quick policy issuance, customers can easily get the coverage they need at a price they can afford. Vericity is based in Chicago, Illinois.

Buy $170M
Mergr

Solution for

Product

Company

Legal