Mintz represented Sterling Brokers, a leading Canadian benefits brokerage and third-party administrator, in connection with its sale to HGGC, a middle-market private equity sponsor based in Palo Alto. The sale represents an exit event for True Wind Capital, the San Francisco-based private equity firm that invested in Sterling three years ago.
Founded in 2014 and headquartered in Toronto, Sterling provides a comprehensive suite of group benefits solutions to Canadian and multinational corporations through its proprietary technology platform, which integrates with HRIS and payroll systems to connect employers and insurance carriers. True Wind’s 2022 investment, which was Sterling’s first institutional capital raise, supported the company’s growth strategy and expansion efforts.
More information about the deal is available here.
The Mintz team was led by Private Equity Partner Alex S. Kaufman along with Partners Michael Akkawi and Matthew Atkey. The team also included Associates Wuqi Liu, Ellery O’Hara, Tully Cogswell, and Emma Weiss. The deal team spanned the firm’s San Francisco, Toronto, Boston, and New York offices.