(All amounts in this release are in Canadian Dollars)
Ottawa, Ontario, May 10, 2017 – Calian Group Ltd. (TSX: CGY) is pleased to announce today that it has acquired International Safety Research Inc. (ISR) of Ottawa, Ontario. ISR has been in business for almost 20 years providing radiation and nuclear safety engineering, and emergency preparedness and response services to both government and private sector customers.
"With revenues of approximately $8 million, we expect this acquisition to be EBITDA accretive from day one," stated Jacqueline Gauthier, Chief Financial Officer. “ISR results will be consolidated and reported as part of the Company’s Business and Technology Services (BTS) division.”
"ISR is an excellent fit for Calian," stated Jerry Johnston, VP, Training & Engineering Services. "The synergies that we can derive from the combination of ISR's services, and our own Emergency Management service offering, will allow us to provide unparalleled support to both new and existing customers."
"The acquisition of ISR is a great example of our four pillar growth strategy at work” stated Kevin Ford, Calian's CEO. "Through this acquisition we can retain customers both companies now share, diversify our customer base through ISR's deep connections in the nuclear industry nationally and internationally, evolve our Emergency Management service offering and introduce new capabilities in the Chemical, Biological, Radiological Nuclear and Explosive (CBRNE) consulting domains. ISR also brings methodologies and tools that can support our goal of continuous improvement in our operations."
Mike McCall, CEO of International Safety Research Inc. stated “the Calian brand, expertise, and market presence will enable ISR to rapidly grow its presence in the Nuclear Safety and Emergency and Preparedness and Response sectors.”
Calian employs over 2,700 people with offices and projects that span Canada, U.S. and international markets. The company's capabilities are diverse with services delivered through two divisions. The Business and Technology Services (BTS) Division is headquartered in Ottawa and includes the provision of business and technology services to industry, public and government in the health, training, engineering and IT services domains. Calian’s Systems Engineering Division (SED) located in Saskatoon plans, designs and implements complex communication systems for many of the world’s space agencies and leading satellite manufacturers and operators. SED also provides contract manufacturing services for both private sector and military customers in North America.
International Safety Research Inc. (ISR) is a science and technology company staffed by scientists, engineers and IT specialists, and supported by a team of project managers and operational specialists, bridging the gap between science and operations. ISR specializes in nuclear safety, and emergency preparedness and response nationally and internationally.
For further information, please visit our website at www.calian.com, or contact us at email@example.com
Certain information included in this press release is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Such statements are generally accompanied by words such as "intend", "anticipate", "believe", "estimate", "expect" or similar statements. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price competition; the dependence on new product development; the impact of rapid technological and market change; the ability of Calian to integrate the operations and technologies of acquired businesses in an effective manner; general industry and market conditions and growth rates; international growth and global economic conditions, particularly in emerging markets and including interest rate and currency exchange rate fluctuations; and the impact of consolidations in the business services industry. Additional risks and uncertainties affecting Calian can be found in Management’s Discussion and Analysis of Results of Operations and its Annual Information Form for the fiscal year ended September 30, 2016 on SEDAR at www.sedar.com. If any of these risks or uncertainties were to materialize, or if the factors and assumptions underlying the forward-looking information were to prove incorrect, actual results could vary materially from those that are expressed or implied by the forward-looking information contained herein and our current objectives or strategies may change. Calian disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. No assurance can be given that actual results, performance or achievement expressed in, or implied by, forward-looking statements within this disclosure will occur, or if they do, that any benefits may be derived from them.