On July 29, 2016, Lackner McLennan Insurance Ltd. acquired Erb and Erb Insurance Brokers Ltd.
Lackner McLennan has been a Kitchener-Waterloo brokerage for more than 70 years, offering personal and commercial insurance. The business going forward will be operated by six partners and a staff of dedicated insurance specialists and support personnel.
Erb and Erb Insurance is one of Waterloo Region’s largest independent insurance firms, with offices located in downtown Kitchener. The company’s 65 employees offer a broad suite of personal and commercial insurance, as well as life insurance and financial services products.
Both firms have been recognized for their aggressive pursuits of new technology solutions, offering mobile apps, digital marketing, and online bind and purchase options. Over the next few years, the firms will continue to bolster product offerings, service and technology advances to create a dynamic and expanding business.
Miller Thomson advised both parties to the transaction with a team comprised of Ian Wismer assisted by Melissa Tummon acting for the purchaser. Andrew Roth also advised the purchaser in respect of new credit facilities provided by Bank of Montreal and Gore Mutual Insurance Company.
A team comprised of Stephen Sweeney assisted by Graham Parkinson advised the vending shareholders.