Financial Horizons acquires OdysseyBy Mathieu Carbasse | January 29 2016 02:06PM
John Hamilton, President & CEO of Financial Horizons Group.
John Hamilton, President & CEO of Financial Horizons Group, Guy Papillon and Stéphane Miron, President and Executive Vice-President, respectively, of Groupe Financier Odyssée Inc. which also operates as ‘Odyssey Insurance’, have just announced the acquisition of Odyssey by Financial Horizons Group.
Odyssey Insurance is a group benefits company and Third Party Administrator (TPA) headquartered in Sainte-Thérèse, Quebec.
The transaction involved the purchase of all shares of Odyssey Insurance by Financial Horizons Group in exchange for cash and shares in Financial Horizons Group. The transaction closed on Jan. 1, 2016. The office and staff of Odyssey Insurance will remain unchanged.
“This acquisition is another strategic step in the growth of Financial Horizons Group as the leading MGA and financial services company in Canada,” said John Hamilton. “The addition of Odyssey Insurance significantly increases our presence in the Group and TPA marketplace in Canada and we look forward to rolling out the Odyssey Insurance product line across the country.”
For his part, Guy Papillon said that Financial Horizons Group was the perfect match for his business. “We needed access to distribution and we determined that Financial Horizons Group, with its dynamic leadership and strategic approach to growth, was the best fit. We are very pleased to join this great organization and are very excited about the future.”