Ontario Teachers’ acquires Kanetix from Monitor Clipper Partners

Ontario Teachers’ Pension Plan (Ontario Teachers’) has acquired Kanetix Ltd. from Monitor Clipper Partners, LLC (MCP), Torstar Corporation (TSX: TS.B), Alan Ellis and other shareholders. Financial terms were not disclosed.

Toronto based Kanetix Ltd. is Canada’s largest digital customer acquisition platform and marketplace that provides quote comparison search tools for insurance and financial products.

Effective immediately, Igal Mayer, founder of Shop Insurance Canada and former CEO of Aviva Canada, Aviva UK and Aviva Europe, has become CEO and a director of Kanetix, replacing Andrew Lo.

Monitor Clipper Partners acquired control of Kanetix in 2011.

photo credit: Kanetix

News Release

Ontario Teachers’ Agrees to Acquire Kanetix Ltd.

August 31, 2018

TORONTO – Ontario Teachers’ Pension Plan (Ontario Teachers’) today announced it has agreed to acquire Kanetix Ltd., Canada’s largest digital customer acquisition platform and marketplace that provides quote comparison search tools for insurance and financial products. Financial terms were not disclosed.

Ontario Teachers’ would also like to welcome Igal Mayer as the new Chief Executive Officer of Kanetix, effective immediately. Mr. Mayer is the founder of Shop Insurance Canada as well as the former CEO of Aviva Canada, Aviva UK and Aviva Europe.

Ontario Teachers’ private capital group has a long track record of investing in the financial services and technology industries. Kanetix has been a leader in providing millions of Canadians’ online insurance quotes since its launch in 1999 and has built successful partnerships with Canada’s leading insurance companies.

About Ontario Teachers’
The Ontario Teachers’ Pension Plan (Ontario Teachers’) is Canada’s largest single-profession pension plan, with $193.9 billion in net assets at June 30, 2018. It holds a diverse global portfolio of assets, approximately 80% of which is managed in-house, and has earned an average annualized rate of return of 9.9% since the plan’s founding in 1990. Ontario Teachers’ is an independent organization headquartered in Toronto. Its Asia-Pacific region office is located in Hong Kong and its Europe, Middle East & Africa region office is in London. The defined-benefit plan, which is fully funded, invests and administers the pensions of the province of Ontario’s 323,000 active and retired teachers. For more information, visit otpp.com and follow us on Twitter @OtppInfo.

Contact:
Pav Jordan
Investment Communications
(416) 228-6862
pav_jordan@otpp.com

Ted Liu

Ted Liu, M.Sc. (Mining), MBA (Finance), is the Editor of Private Capital Journal and CanadaMetals.ca, and former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA). Ted was the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, the most sophisticated and advanced all private capital and public market financing database.