BroadStreet Partners secures investment from Ethos Capital-led group

BroadStreet Partners announced the completion of a strategic investment by an investor group led by Ethos Capital, British Columbia Investment Management Corporation and White Mountains Insurance Group (NYSE: WTM). T. Rowe Price Investment Management (NASDAQ: TROW) also participated in the investment.

Ontario Teachers' Pension Plan will retain a significant co-control stake and continue its partnership with the Ethos-led investor group, according to a press release statement.

BroadStreet operates as a middle-market insurance brokerage providing commercial and personal property and casualty insurance along with employee benefits solutions. The Columbus, Ohio-based company partners with 30 independent insurance agencies and provides ownership opportunities for more than 800 agency professionals across the United States and Canada.

Ardea Partners served as lead financial advisor to Ontario Teachers' and BroadStreet, while RBC Capital Markets and BMO Capital Markets acted as co-advisors. Multiple law firms provided legal counsel for the transaction participants.

British Columbia Investment Management Corporation manages C$295 billion in gross assets as of March 31, 2025, serving 32 public sector and institutional clients. Ontario Teachers' Pension Plan Board reported net assets of $266.3 billion as of December 31, 2024.

The transaction represents a change in ownership structure for BroadStreet, which uses a co-ownership model with its agency partners. The company provides merger and acquisition capabilities, capital solutions and digital transformation resources to its partner agencies.

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