On January 12, 2021, Blackstone Credit and Westland Insurance Group Ltd. announced they have entered into a partnership. Under the transaction, Westland has refinanced its existing debt with new long term debt financing led by Blackstone. The new debt financing also includes a committed and undrawn debt facility for acquisitions. The partnership will allow Westland to accelerate its growth strategy and become a leading insurance brokerage in Canada.
Westland Insurance Group Ltd. is a Canadian independent property and casualty insurance broker focused on providing advice to home, business, farm life and auto insurance clients.
Blackstone Credit is a global credit focused asset manager specializing in generating risk adjusted returns across the corporate credit market from public debt to private loans.
Osler, Hoskin & Harcourt LLP advised Blackstone Credit with a team consisting of Eric Levy, Brian Gray, Emery White (Corporate), Martha Martindale and Elizabeth Sale (Financial Services).