CIVC Partners-backed StoneRidge Insurance Brokers (SIB) has announced the acquisition of Astro Insurance, a Lethbridge, Alberta-based full-service insurance brokerage and registry agent. Astro Insurance, which has been operational since 1972, will continue to be led by Mark and Cindy Swartout. The acquisition aims to bolster SIB’s offering in personal and commercial insurance lines while maintaining high service levels. This marks SIB’s third transaction of 2024, with a significant deal anticipated in June. The deal underscores SIB’s strategic expansion ambitions in Canada.
Insurance, Private Equity,Canada, Alberta