Feb. 25, 2026 — The Western Investment Co. of Canada has sold its stake in GlassMasters Autoglass as it pivots toward insurance.

The vehicle repair specialist was one of three holdings Western owns alongside p&c insurer Fortress Insurance, which it is planning to expand through the acquisition of smaller specialty lines operations.

“This disposition is an important transactional step in our stated strategic transformation of Western,” CEO Paul Rivett said in a release.

“(It) provides additional capital to deploy toward insurance investments and long-term value creation for our shareholders.”

Western said its proceeds from the sale were roughly $23.2m.

The company initially invested in GlassMasters in 2016. Since then, the operation has been expanded from seven to 19 locations across the Prairies.

Calgary-based Western was founded in 2015 by Sen. Scott Tannas, who is now the company chairman.

Along with Fortress, the company’s remaining holdings include Calgary-based butter and ice cream maker Foothills Creamery and Golden Health Care, a Saskatoon-based long-term care provider.

Fortress is headquartered in Calgary and offers specialty coverages such as marine, commercial property and boiler and machinery, along with auto insurance.

Mr. Tannas said previously that Western was planning to transform Fortress into an insurer generating $100m in annual premiums by 2028. 

Over the past two years, Western has received tens of millions of dollars in funding from Denver-based infrastructure investment company Thermo Companies and from Mr. Rivett, a former president of Fairfax Financial, and his Toronto-based funding firm Tevir Capital Corp.

Western’s shares are listed on the TSX Venture Exchange. The investment company gained full ownership of Fortress in 2024.

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