Ascension Benefits

Ascension Benefits

Founded in 2012, Ascension Benefits is a full-service group benefits brokerage and consulting firm based in Langley, BC that delivers comprehensive people solutions.



Ascension identified an opportunity to expand their business reach through the strategic acquisition of a competitor in the market. The target company had strong, developed ties to Ascension, as well as a comparable culture and customer-centered approach. But in order to pursue this opportunity, Ascension required well-structured and competitive financing.


Having worked with Ashdown on previous financing, Ascension entrusted Ashdown’s Josh Richardson with finding the optimal financing solution for their leveraged acquisition. He stepped into negotiations with the client’s current bank, while packaging the opportunity for alternate lenders. Ascension received two competitive offers in addition to that of the incumbent. They ultimately secured a deal that utilized cash flow-based lending, leveraging business profitability and eliminating the need to securitize physical assets.

In addition to securing strong terms on the acquisition loan, Josh renegotiated their overall banking package, resulting in a 1.15% rate reduction and significant cost savings. Ascension is now well-positioned to pursue growth and create value for its existing and expanded client base.

Services Used

  • Acquisition loan
  • Term debt
  • Line of credit