On March 5, 2024, AGA Benefit Solutions (AGA), a prominent Canadian provider of group insurance and retirement plans, received a significant growth investment from global private equity firm TA Associates (TA). The partnership involved AGA’s management team remaining in place and continuing as major shareholders. Novacap, a North American private equity firm that invested in AGA in 2020, transitioned its ownership position as part of the transaction.

AGA offers brokerage and advisory services along with third-party administration (TPA) and third-party payor (TPP) services, serving over 2,700 customers and more than 200,000 plan members with $1 billion in insurance premiums and group retirement assets. Since 2020, AGA expanded from a regional to a national leader through five strategic acquisitions and plans to continue growing both organically and through mergers and acquisitions.

Martin Papillon, CEO of AGA, emphasized their commitment to customer satisfaction, technological advancement, and becoming the Canadian leader in employee benefits. Clara Jackson, Director at TA, and Todd Crockett, Managing Director at TA, expressed excitement in supporting AGA's growth and maintaining top-tier solutions. Marcel Larochelle, Managing Partner at Novacap, praised the partnership with AGA over the past four years and wished them success in their future expansion.

The financial terms of the transaction were not disclosed.