Quebec, Quebec — The Quebec-based iA Financial Corporation has announced the acquisition of three vehicle warranty companies—WGI Service Plan Division, WGI Manufacturing, and Lubrico Warranty.
WGI Service Plan Division and WGI Manufacturing operate out of Toronto, Ont. and Vancouver, B.C. respectfully. Both companies are subsidiaries of C. Walker Group, a market leader in the Canadian warranty and ancillary products business and also a longtime partner of iA.
“We are excited that WGI will be joining a visionary and forward-thinking organization,” said Chuck Walker, owner of C. Walker Group Inc. “iA has demonstrated its commitment to enhancing its car dealer and client experience. We are confident that our clients and dealers will be well served and their interests will continue to be well represented.”
As for Lubrico Warranty, based in London, Ont. the company sells car warranties through more than 4,000 used vehicle dealerships across the country excluding Quebec. Warranties sold by Lubrico are honoured at more than 3,000 collision repair facilities.
“With Lubrico Warranty becoming part of iA’s Dealer Services division, we anticipate that synergies will allow us to add significant value to the services offered to Canadian consumers looking to acquire a vehicle through our network of dealer partners,” remarked Terry Fletcher, president of Lubrico Warranty.
All three acquisitions are effective immediately, according to iA. A news release by the corporation stated the three companies will be managed under the dealer services division of the corporation.
“With these acquisitions, iA pursues its growth strategy to become a major force in the Canadian automobile ecosystem by achieving scale and industry-leading productivity,” said Sean O’Brien, the senior vice-president of dealer services at iA Financial Group. “These acquisitions offer substantial opportunities in respect of client and dealer experience and will make iA more present in used vehicle dealerships.”