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Co-operators acquires Carson Dunlop and enters Home Services

Feb 15, 2024

Embedding resilience in the homeowner's journey through home services

TORONTO, Feb. 15, 2024 /CNW/ - Co-operators Financial Services Limited ("Co-operators"), announced today the acquisition by a wholly owned subsidiary of Co-operators of the parent company of Carson Dunlop & Associates Ltd. (the "Acquisition"), a consulting engineering firm providing unbiased advice to help homeowners make better, more informed decisions about their homes, while also providing education and reporting software for the inspection profession. The Acquisition includes the commercial inspection firm Carson Dunlop Weldon & Associates Ltd.; a U.S. franchise network National Property Inspections Inc.; and a Canadian franchise network, GPI Franchise Corp. (collectively, "Carson Dunlop").

More than 200,000 inspections are performed annually across the Carson Dunlop platform. The Acquisition is a milestone for the Co-operators' resiliency strategy, which seeks to catalyze more sustainable communities.

"Home services is a new business line at Co-operators, and one which is perfectly tied to our purpose. Our combined capabilities with Carson Dunlop will provide an unparalleled inspection experience," explained Steve Phillips, Executive Vice President of Emerging & Adjacent Business Models at Co-operators. "We are committed to participating in the home services industry and Carson Dunlop is an excellent match for our purpose, vision, and values."

Navigating today's housing market – finding a community that meets the needs, availability, and pricing - is no small feat. A person's home is likely to be the single largest investment they'll make over the course of their lives and, increasingly, is seen as the lynch pin of their financial futures. That large of an investment decision deserves the very best information and advice, something Carson Dunlop has been providing clients for nearly half a century.

"I started the company 46 years ago with the idea of providing trusted, unbiased advice to existing and potential homeowners," said Alan Carson, co-founder of Carson Dunlop. "We demystify homeownership by providing knowledge and peace of mind. I look forward to continuing the Carson Dunlop journey along with Co-operators."

"In Co-operators, we have found an ideal partner that brings a wealth of experience, relationships, and resources to drive growth and long-term value for our stakeholders," said Craig Rowsell, CEO of Carson Dunlop & Associates Ltd. "Our core values are in sync, and Co-operators' long-term vision uniquely positions us to effectively scale our network and help us live our purpose: to better the lives of homeowners."

Carson Dunlop will continue to operate as it does today, and clients can look forward to working with the same name they know and trust.  

About Co-operators

The Co-operators Group Limited (together with its subsidiaries, "Co-operators Group") is a leading Canadian financial services co-operative, offering multi-line insurance and investment products, services, and personalized advice to help Canadians build their financial strength and security. Co-operators Group has more than $58 billion in assets under administration and has been providing trusted guidance to Canadians for the past 78 years. The organization is well known for its community involvement and its commitment to sustainability. Achieving carbon neutral equivalency in 2020, the organization is committed to net-zero emissions in its operations and investments by 2040, and 2050, respectively. Co-operators Group is also ranked as a Corporate Knights' Best 50 Corporate Citizen in Canada.

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SOURCE The Co-operators Group Limited

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