Novacap Announces Successful Exit from AGA Benefit Solutions

Novacap announces the sale of AGA Benefit Solutions (AGA), marking a significant milestone following a strategic period of remarkable growth and expansion for the company. AGA, a leading player in the Canadian group insurance and pension sector, is entering a new phase in its evolution, supported by an investment from TA Associates.

Novacap’s initial investment in 2020 was a catalyst for a significant transformation of AGA from a regional service provider to a leading national entity. The company now operates across six sites in Canada and employs over 300 people. It manages a portfolio of over 2,700 customers, with assets and premiums in excess of one billion dollars. AGA has also strengthened its position through strategic initiatives, including five key acquisitions that have paved the way for continued growth and expansion.
AGA is committed to enhancing its offerings and customer experience through technology and process automation. The company aims to continue its growth organically and through acquisitions, underpinned by the new partnership with TA Associates.

Reflecting on the exit, Marcel Larochelle, Managing Partner at Novacap, stated, “We are extremely proud of the partnership achieved with AGA over the last 4 years and their transformation into a leading national provider of group benefits solutions. We wish them continued success over their next chapter of expansion.”

This transaction illustrates Novacap’s strategy of investing in companies with high growth potential and working alongside them to transform them into leaders in their industries.