AGA Benefit Solutions has completed its acquisition of Aria Benefits Inc., a benefits consulting firm located in Oakville, in southern Ontario. The acquisition comes shortly after AGA's return to entirely Canadian ownership, following the arrival of two investors: its former shareholder Novacap and the Fonds de solidarité FTQ. The two investors purchased the stake held in AGA by U.S. private equity firm TA Associates.
In the article Major group benefits brokerage returns to full Canadian ownership, published on the Insurance Portal on November 2, 2026, AGA president and chief executive officer (CEO) Martin Papillon said he was on the verge of announcing transactions.
In an exclusive interview with the Insurance Portal the following week, Mr. Papillon revealed that AGA had managed the acquisition of the Oakville firm and the conclusion of agreements with the two shareholders simultaneously. In the case of Aria Benefits, the two parties signed an agreement on November 1. Novacap and the Fonds FTQ, for their part, signed on October 30.
Regarding the acquisition of Aria Benefits, Mr. Papillon declined to disclose the premium volume or purchase price involved. AGA's CEO did, however, specify that the Ontario firm serves approximately 160 clients. AGA, for its part, employs 350 people and serves more than 7,000 clients.
AGA makes the first move
It was AGA that approached Robin Bailey, the founder of Aria Benefits, Mr. Papillon said. He explained that Mr. Bailey liked his proposal, given AGA's acquisition strategy of "bringing together people whose strengths complement our own."
In an AGA news release published November 13, Robin Bailey explained the reasons behind his decision to join the consolidator. "AGA and Aria Benefits have a lot in common. Based on AGA’s track record of successful acquisitions, I am confident that the values on which we built Aria Benefits will continue to be honored through this evolution," Mr. Bailey said in the release.
AGA says the transition will be seamless. Its news release notes that Robin Bailey's arrival will contribute to AGA's efforts to acquire and retain clients in Ontario and elsewhere in Canada. "Other Aria Benefits team members will also be part of the AGA team going forward and remain involved with clients to whom they were previously assigned," the release states.
In the interview, Martin Papillon revealed that Mr. Bailey is joining AGA as director of business development. "Robin is an outstanding business developer and found the idea of joining a larger team with a broader product portfolio very appealing. He was looking for the best environment in which to continue growing his practice," said the Quebec-based consolidator's CEO.
Aria Benefits describes itself as a company whose origins date back to 2005 and that provides consulting services to small and medium-sized enterprises (SMEs) in Ontario. The firm says it helps employers manage group insurance plans and has expertise in flexible benefits plans.
Strengthening its presence in Ontario
AGA's CEO also recounted the company's entry into the Ontario market in 2021. He says AGA has gradually established itself as an important player in employee benefits in Canada. He revealed that the company now has approximately 50 employees in the province, where it operates two offices: one in Markham and the other in Kitchener. Aria Benefits employees will be based at the Markham office.
Mr. Papillon believes AGA has increased its visibility and client base by combining its expertise as a third-party administrator and third-party payer (TPA/TPP), broker and advisor. "The acquisition of Aria Benefits brings us a strong client portfolio as well as a corporate culture in which relationships built on trust play a central role," he said.
Looking ahead, the CEO says acquisitions are poised to follow one another as never before. "Especially since we've given ourselves the means to do so," he added. Beyond the contribution of its new shareholders, the executive also pointed to that of the team. "We now have a team dedicated to the mergers and acquisitions process," he said. Martin Papillon specified that this team reports to AGA's chief operating officer, Chantal Dufresne.
