On April 9, 2025, Synex Business Performance announced a strategic partnership with FSB GROUP LTD., marking its first transaction since securing minority investments from CDPQ and Ares Management Credit funds. This move reinforces Synex’s national growth strategy and solidifies its presence in the Greater Toronto Area (GTA), one of Canada’s key insurance markets.

Based in Concord, Ontario, FSB comprises FSB Insurance Ltd. and FSB Commercial Ltd. Founded in 1985, FSB has grown into a leading independent brokerage with over 115 employees and more than $125 million in managed premiums. Renowned for its expertise in personal, commercial, and high-net-worth insurance, FSB brings nearly four decades of trusted client service and strong community ties.

The partnership offers FSB an opportunity to scale operations with the support of Synex’s national platform while maintaining its entrepreneurial culture and local autonomy. Synex’s people-first, collaborative approach aligns with FSB’s values of transparency, service, and personalized care. FSB was exclusively advised by Dowling Hales, which served as its financial advisor throughout the process.

This milestone represents a broader acceleration of Synex’s expansion strategy, enabled by recent capital infusion from institutional investors. Synex, which now includes 24 brokerage firms across Canada, aims to strengthen its role as a consolidator in the insurance sector while preserving the independence and identity of local brokers. This partnership exemplifies Synex’s vision of building a strong national network rooted in trust, expertise, and entrepreneurial spirit.