People Corporation—through its wholly owned subsidiary, Bencom Financial Services Group—has purchased the group benefits business of Fairles Benefit Services (FBS) based in Waterloo, Ont.
Financial terms of the deal, which closed earlier this month, were not disclosed.
Established in 1991, FBS provides group benefits and group retirement consulting to a broad range of clients in the southwestern Ontario region. FBS will continue to operate under its own name.
“We are thrilled to announce yet another acquisition in the Kitchener/Waterloo area, following on the previous successful transaction with Bencom of Kitchener, Ont., in December 2012,” says People Corporation chairman and CEO Laurie Goldberg. “Together with Bencom, FBS further strengthens our already strong presence and reputation in the southwestern Ontario market.”
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