People Corporation Announces Acquisition of Group Benefits Business of Bryan H. Lupe and Associates
05 Junio 2014 - 7:30AM
Marketwired
People Corporation Announces Acquisition of Group Benefits Business
of Bryan H. Lupe and Associates
WINNIPEG, MANITOBA--(Marketwired - Jun 5, 2014) - People
Corporation ("People" or the "Company") (TSX-VENTURE:PEO) today
announced the acquisition of the group benefits business of Bryan
H. Lupe and Associates ("BHL") based in Winnipeg, Manitoba. BHL
provides group benefits consulting and administration services to a
broad range of clients, establishing a solid reputation for
outstanding client service and creativity in providing group
benefits solutions that best meet its clients' needs. With the
addition of this leading practice, People has significantly
increased its presence in the Winnipeg market.
Laurie Goldberg, Chairman and CEO of People Corporation,
commented, "We are thrilled to announce our first acquisition in
our home market of Winnipeg." Mr. Goldberg continued, "In addition,
the opportunity to add a firm to the People Corporation family with
the stature in the local market and reputation with clients that
BHL has, is very exciting for us."
Mr. Bryan Lupe, founder of BHL added, "I am very pleased that
BHL is joining the People Corporation group of companies. As I
considered options for a transition of ownership, it was very
important for me to find a partner that has the same strong focus
on creative solutions and client service that is the hallmark of
BHL. In addition to providing our valued clients with the same
level of superior advice, products and services that is the
cornerstone of our firm, we are excited about making available many
of the unique and proprietary offerings that come with partnering
with People Corporation."
Terms of the transaction, which closed as of May 30, 2014, are
not being disclosed. The Company expects the transaction to have an
immediate positive impact on revenue and EBITDA. The purchase price
for the transaction will be funded through existing cash resources,
including from the proceeds of the Company's recent private
placement of common shares completed in April 2014.
Mr. Goldberg added, "This transaction is further affirmation of
our success in attracting new firms to the People Corporation
family as they recognize our unwavering focus on providing
value-added products, services and advice to clients, delivered
locally by consultants with in-depth knowledge of the market, and
supported by the substantial resources of a large company with deep
resources and national scale." This acquisition represents People's
second transaction this year as part of the Company's
acquisition-based growth plan, closely following the acquisition of
an increased economic interest in a portfolio of group benefits
clients from an Ontario-based brokerage firm in March 2014. "The
momentum in the execution of our growth strategy is continuing, and
we are well-positioned with a strong team, significant capital, and
an attractive operating model. We look forward to continuing to
report on our progress in building the leading independent national
provider of group benefits, group retirement and HR consulting
services, with best-in-class consultants delivering innovative and
customized solutions to clients," concluded Mr. Goldberg.
About People
Corporation
People is a national provider of group benefits, group
retirement and human resource services. The Company has offices
across Canada, each led by a team of experts and backed by the
resources of a national company that is traded on the TSX-V. Our
industry experts provide uniquely valuable insight while
customizing our innovative suite of services to the specific needs
of our clients. Whatever your sector, whatever your scale, putting
our expertise and proven track record to work will make a
difference to your people and your bottom line.
Further information is available at
www.peoplecorporation.com.
Forward-Looking
Information
This news release contains "forward-looking information" within
the meaning of applicable securities laws, such as information
concerning anticipated future events, results, circumstances,
performance or expectations that are not historical facts. Use of
words such as "may", "will", "expect", "believe", or other words of
similar effect may indicate forward-looking information including
the completion of the transaction, the impact of that transaction
on our earnings and cash flow, and the anticipated benefits of the
transaction. This information is not a guarantee of future
performance and is subject to numerous risks and uncertainties,
including those described in our publicly filed documents (which
are available on SEDAR at www.sedar.com). Those risks and
uncertainties include: our ability to maintain profitability and
manage growth; strong competition from other advisors and changes
in the current legislation could result in significant competition
from the banking industry; failure of information systems and
technology; dependence on key clients; seasonality of revenues and
the resulting possible impairment on working capital; reliance on
key professionals; additional financing may be required and may not
be available under terms favourable to us; there can be no
assurance that any suitable future acquisition will be available to
us or that, if available, the terms of the acquisition will be
favourable to us; and a change in general economic conditions. Many
of these risks and uncertainties can affect our actual results and
could cause our actual results to differ materially from those
expressed or implied in any forward-looking information made by us
or on our behalf. Given these risks and uncertainties, investors
should not place undue reliance on forward looking information as a
prediction of actual results. All forward-looking information in
this news release is qualified by these cautionary statements. This
information is made as of the date of this news release and, except
as required by applicable law, we undertake no obligation to
publicly update or revise any forward looking information, whether
as a result of new information, future events or otherwise.
Additionally, we undertake no obligation to comment on analyses,
expectations or statements made by third parties in respect of the
Company, its financial or operating results or its securities.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this press release.
Investor Relations Inquiries: People CorporationBrevan
Canning(204)
295-8860brevan.canning@peoplecorporation.comwww.peoplecorporation.com
People (TSXV:PEO)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
People (TSXV:PEO)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024