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Hub expands into Canadian employee-benefits market with Rogersworks deal

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Hub International has acquired the assets of Rogersworks Inc for an undisclosed sum.

Headquartered in Vancouver, Rogersworks focuses its brokerage operations on the employee group benefits market.

John Ash, a benefits consultant and partner associated with Rogersworks since 1995, will join the brokerage firm’s Hub Coastal unit.

The Rogersworks deal is the eighth transaction for the acquisitive Chicago-headquartered company this month alone.

Last week, Hub acquired the assets of Safe Harbour Group in New York and Jerry Baird Insurance in California to expand its real estate and agribusiness capabilities.

The brokerage firm has also acquired California-based Verity Insurance and Eaton-Provident Group in Arizona, as well as HW Hollinger in Quebec, Silverman Financial in Florida and National Home Warranty Group.

In August, Hub bought Pensacola, Florida-based Hiles-McLeod Insurance and added its president Mike Eddins, and vice president Jason Broxson, to Hub’s Gulf South division.

The company has executed an aggressive M&A strategy to expand its operations in various markets in North America.

Earlier this year, during Hub’s second-quarter conference call, CFO Geoff DeMartino told analysts: “We have zero net debt, and our priorities for cash flow are to reinvest in the business through capital expenditures and strategic acquisitions.”

DeMartino added that the company had modeled both large and smaller acquisitions for the next three to four years.

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