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Great-West Lifeco to acquire Financial Horizons Group

Great-West Lifeco world headquarters is pictured in Winnipeg.

JOHN WOODS/THE CANADIAN PRESS

Great-West Lifeco Inc. has signed a deal to acquire Financial Horizons Group, which has 30 offices across Canada.

Financial terms of the deal were not immediately available.

Financial Horizons is a managing general agency that provides insurance and other products and services to financial advisers.

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Great-West says the existing management team, including Financial Horizons founder and chief executive John Hamilton, will remain in place and continue to run the business.

Hamilton is the second largest shareholder in Financial Horizons after San Francisco-based private equity firm Genstar Capital, which owns a 72 per cent stake.

The acquisition is subject to regulatory approval and customary closing conditions.

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