Quebec City, March 1st , 2022 – Synex Business Performance Group (“Synex”) announced today that it has
entered into an investment agreement with U.S.-based BBH Capital Partners (“BBHCP”). The substantial
minority equity investment from BBHCP allows Synex to accelerate growth while remaining majority-owned
and controlled by employees. Synex is excited to partner with BBHCP and capitalize on the attractive
consolidation opportunity in Canada’s insurance brokerage market.
“We have built a solid foundation at Synex. This investment partnership with BBHCP provides over a $100
million capital infusion for Synex to accelerate growth and to achieve our ambitious long-term strategic
objectives. With this partnership, Synex is ensuring that it remains independent and continues its mission to
save the independent brokerage industry. We are very proud of this important accomplishment and look
forward to creating value and opportunities for our employees, customers and carrier partners during
Synex’s next phase of growth,” said Yan Charbonneau, President of Synex Business Performance.
Synex Business Performance is a holding company that owns the $415 millions of premium in Synex
insurance brand, and $50 millions of premium in Synex Group insurance. Synex owns fourteen property &
casualty and group benefits insurance brokerage firms across Canada. Synex Business Performance’s
vision is to become a leader in Canada’s insurance distribution market through organic growth and
acquisitions. Preserving entrepreneurial independence and employee ownership within each of our agencies
is of paramount importance to us. Synex is proud to be an Executive Member of the Canadian Broker
Network, an alliance of independent, employee-owned insurance brokers that share best practices and
connections to help member-partners innovate, grow and succeed.
About Brown Brothers Harriman
BBH is a privately-held, global financial services firm founded in 1818 and headquartered in New York City.
It counts privately-held companies, families and wealthy individuals among its clients. BBH employs
approximately 6,000 professionals across 17 offices worldwide. The firm operates through three business
lines: Private Banking, Investment Management and Investor Services.
About BBH Capital Partners
BBHCP, the private equity strategy of Brown Brothers Harriman, provides highly customized capital solutions
to growth-oriented companies. A flexible investment mandate gives BBHCP the ability to act as a control or
non-control investor and to structure investments with a combination of equity and subordinated debt
securities, as needed. BBHCP’s capital is used to finance a variety of transactions, including management
buyouts, leveraged buyouts, growth financings, buy-and-build strategies, and acquisitions. BBHCP is part of
Brown Brothers Harriman’s Private Banking line of business, which has over $50 billion in assets under
Synex Business Performance