We are proud to announce that right around the time RenoAssistance celebrates its 10 years of existence, Desjardins has become the majority shareholder of the company. This important partnership will allow us to enhance exponentially the service we offer to our contractors and clients.
What does this mean for our Verified Contractors?
Rest assured, though Desjardins is now the majority shareholder at 51%, RenoAssistance will remain business as usual in its day-to-day operations. The team you have worked so closely with, as well as our management team, will remain the same.
For you, our Verified Contractors, this acquisition signifies that we will be able to provide you with more resources to support you in your entrepreneurial goals. In 2020, our objective is to personalize even more the service we offer to you, and to equip you with better tools to reach your own objectives.
Our first initiative on that front is the launch of our Toolbox. It will contain tips, tricks, trends and advice to help you improve various aspects of your operations. We know it’s not always obvious how to manage every part of your business, which is why we want to maximize our support, so you can spend more time where you are the most valued: your work site.
Why did we decide to work with a partner?
After having been approached by several big players, Desjardins distinguished itself as the clear choice. It was clear that their objective was to ease the life of property owners and that our core values were perfectly aligned. We quickly realized that we had a common goal: to improve people’s lives. This rings true just as much for our clients, who dream of renovating their home, as for our contractors who dream of running a successful business. Helping people is at the core of what we do.
It’s in this same vein that Desjardins decided to expand their own services. “Real estate is often the largest asset in any family,” says Martin Brunelle, Vice-President of Growth, Acquisitions and Development at Desjardins. “According to homeowners we’ve surveyed, renovations can be difficult and cause no small amount of aggravation. And it’s not necessarily any easier for commercial operators, who don’t always have the time or the expertise to vet suppliers or conduct major renovations. RenoAssistance offers a database of verified local contractors and personalized support and planning throughout the process, including in the event of litigation. We want to speed up the company’s growth across Quebec and in Ontario, where Desjardins is the leading property and casualty insurer.”
Thanks to these new resources, we aim to propel our service offerings across all of Quebec, Ontario and eventually, Canada.
Some information about Desjardins:
Desjardins Group is the leading cooperative financial group in Canada and the fifth largest cooperative financial group in the world, with assets of $312.7 billion. It has been rated one of Canada’s Top 100 Employers by MediaCorp. To meet the diverse needs of its members and clients, Desjardins offers a full range of products and services to individuals and businesses through its extensive distribution network, online platforms and subsidiaries across Canada. Ranked among the world’s strongest banks according to The Banker magazine, Desjardins has some of the highest capital ratios and credit ratings in the industry.
A little information about RenoAssistance:
- Founded January 2010
- Desjardins has been the major shareholder since January 2020
- 40 employees
- A 1,000-member network of Verified Contractors analyzed on 54 points
- Over $200 million in renovation projects handled annually
- Over 76,000 residential and commercial clients supported
- 82% residential projects and 18% commercial projects
- $5 million: the largest project executed by a RenoAssistance contractor
- Average project value: $17,000
- Minimum project value: $3,000
- Up to 3 quotes per project, at no cost, with no obligation
- Do I need to be a Desjardins member or client to continue doing business with RenoAssistance?
No. It is not required to be a Desjardins member or client to do business with RenoAssistance. It is possible that in the future both entities work together to provide financial support to contractors.
- Is the RenoAssistance service only available to Desjardins members and clients?
No. RenoAssistance will continue to offer its services to all property owners and commercial tenants.