Ontario Teachers' completes its acquisition of HomeEquity Bank

Torys acted as counsel to HomeQ and Birch Hill with a team that included Guy Berman, Stephen Neil, Sarah Strong and Marco Pontello (corporate/M&A), Blair Keefe and Eli Monas (financial services/regulatory), Dany Assaf and Ian Li (competition) and Jerald Wortsman (tax).

On July 4, 2022, Ontario Teachers' Pension Plan Board ("Ontario Teachers'") completed the acquisition of HomeQ Corporation ("HomeQ"), the parent company of HomeEquity Bank, from Birch Hill Equity Partners Management Inc. ("Birch Hill") and the other minority shareholders of HomeQ.

Further information can be found on Canada Newswire’s website.

HomeEquity Bank is a Schedule 1 Canadian Bank offering a range of reverse mortgage solutions including the flagship CHIP Reverse Mortgage™ product.

Ontario Teachers' is the administrator of Canada's largest single-profession pension plan, with C$241.6 billion in net assets as at December 31, 2021.

Birch Hill is a Canadian mid-market private equity firm with a 26-year history of driving growth in portfolio companies and delivering returns to investors.