Canada’s Co-operators Enters Home-Services Business With Carson Dunlop Purchase *Centurion Insurance AFS*

Co-operators Financial Services Ltd. announced the acquisition of the parent company of Carson Dunlop & Associates Ltd., a consulting engineering firm that provides advice to help homeowners make better, more informed decisions about their homes, while also providing education and reporting software for the inspection profession.

Financial details of the deal were not disclosed. The acquisition, which was completed by a wholly owned subsidiary of Co-operators, includes the commercial inspection firm Carson Dunlop Weldon & Associates Ltd.; a U.S. franchise network National Property Inspections Inc.; and a Canadian franchise network, GPI Franchise Corp. (collectively, “Carson Dunlop”).

More than 200,000 inspections are performed annually across the Carson Dunlop platform, which will continue to operate as it currently does, with the same brand name.

The Co-operators said the acquisition is a milestone for its resiliency strategy, which seeks to catalyze more sustainable communities.

“Home services is a new business line at Co-operators, and one which is perfectly tied to our purpose. Our combined capabilities with Carson Dunlop will provide an unparalleled inspection experience,” explained Steve Phillips, executive vice president of Emerging & Adjacent Business Models at Co-operators. “We are committed to participating in the home services industry and Carson Dunlop is an excellent match for our purpose, vision, and values.”

A person’s home is likely to be the single largest investment they’ll make over the course of their lives and, increasingly, is seen as the lynch pin of their financial futures — which is why it deserves the very best information and advice, something Carson Dunlop has been providing clients for nearly half a century, Co-operators said.

“I started the company 46 years ago with the idea of providing trusted, unbiased advice to existing and potential homeowners,” said Alan Carson, co-founder of Carson Dunlop. “We demystify homeownership by providing knowledge and peace of mind. I look forward to continuing the Carson Dunlop journey along with Co-operators.”

“In Co-operators, we have found an ideal partner that brings a wealth of experience, relationships, and resources to drive growth and long-term value for our stakeholders,” said Craig Rowsell, CEO of Carson Dunlop & Associates Ltd. “Our core values are in sync, and Co-operators’ long-term vision uniquely positions us to effectively scale our network and help us live our purpose: to better the lives of homeowners.”

The Co-operators Group offers multi-line insurance and investment products and services. Operating for 78 years, the company has more than C$58 billion in assets under administration.

Source: The Co-operators

Topics
New Markets
Canada