The Leslie Group acquires Marathon Benefit Corp
The Leslie Group Limited, an employee benefits consulting firm, has acquired 100% of the shares of Marathon Benefit Corporation of Calgary, Alberta.
In a May 4 announcement, The Leslie Group, which is based in Toronto, stated that the acquisition is “a foundational step” as it seeks to expand its footprint in Western Canada.
Shawn Leslie, President and CEO of The Leslie Group, says “the addition of Marathon to our organization continues our commitment to our clients to provide a high level of service. In addition, I am especially proud to support Alberta though the expansion of The Leslie Group in Alberta.”
Lynn Favorite, Managing Owner of Marathon says “We are very excited about the merger of Marathon Benefits and The Leslie Group. We feel strongly that our combined areas of expertise will provide greater value for our clients.”
Chris Goodale, Director of Finance and Operations for The Leslie Group, told Insurance Portal that the Marathon transaction has increased The Leslie Group’s clients under management by 12%. The Leslie Group will now have combined group insurance premiums of $170 million and group retirement assets of $700 million under management.
Goodale added that the Marathon name will continue for the immediate future by operating as a division of The Leslie Group. Marathon and Leslie Group Alberta staff will be merged in one office location.