On January 4, 2021, Duo Bank of Canada, in partnership with Stephen Smith, Centerbridge Partners L.P. and Ontario Teachers' Pension Plan Board, completed its acquisition of Fairstone Financial Holdings Inc. The acquisition supports Duo Bank of Canada’s growth objectives as it executes its multi-year growth strategy with a customer and community focus. The transaction includes all of Fairstone Financial Holding’s operations and subsidiaries, along with 1400 employees.
Duo Bank of Canada is a privately Toronto based financial services provider specializing in customizable financial solutions and products and services including credit cards, rewards programs and related protection services and deposits.
Fairstone Financial Holdings Inc. is Canada’s leading non-bank provider of responsible lending solutions for near-prime borrowers and non-prime borrowers. Fairstone is located across Canada with over 235 branches.
The Ontario Teachers' Pension Plan Board is the administrator of Canada's largest single-profession pension plan.
Osler, Hoskin & Harcourt LLP advised Ontario Teacher’s Pension Plan with a team consisting of John Groenewegen, Victoria Graham, Brett Anderson, Arielle Kaplan (Corporate) and Patrick Marley (Taxation).