Sterling Capital Brokers acquires benefit consultancy LCI
Sterling Capital Brokers, a Toronto-based independent benefit consulting firm, has acquired Leudey Consultants Inc. (LCI), a Halifax-based boutique benefit consultancy.
Founded in 2002 by Bill Luedey, LCI supports more than 70 clients in Atlantic Canada, including private companies, public sector employers, and union building trades. The LCI team has a combined 100+ years of consulting experience across benefit plan reviews, plan management, claims analysis, market analysis, benchmarking, and communications.
The firm has offices in Halifax, NS and Fredericton, NB.
Sterling’s acquisition of LCI will make it one of Canada’s largest independent benefit consulting firms specializing in high-growth, small-to-medium businesses, according to a release from the firm.
"Luedey Consultants is a highly regarded organization with an exceptional reputation in Atlantic Canada,” said John Griffin, president of Sterling Capital Partners. “Through this merger, the combined firm gains access to new geographies while adding strong internal consulting capabilities from LCI."
Sterling was founded in 2014 and provides comprehensive benefit consulting and customized plan management technology services. The firm’s integrated partners include Blue Marble, ADP, Ceridian, and SAP SuccessFactors.
The firm’s offerings include group insurance and third-party administrator services, group retirement, risk management, retail investment, and international benefit administration consulting.
Sterling has approximately 18 employees in its Toronto office.
"By adding LCI's consulting expertise with Sterling's small to mid-sized benefit plan approach, our combined services will be well positioned to effectively offer valuable employee benefit consulting to current and potential clients in Atlantic Canada and other regions of Canada," Luedey said.
In other benefit consultancy M&A news, Winnipeg-based People Corporation recently acquired several Canadian firms – including Alliance Pour La Santé Etudiante Au Quebec Inc. (ASEQ), Watermark Benefit Consulting Inc., and Encompass Benefits & HR Solutions Inc.
