Omni and Groupe Distinction Announce Merger
To Our Valued Clients
With the New Year upon us, I would like to take this opportunity to wish you and your family health and happiness in 2008. Also, I would like to thank you for your business and your trusted relationship with our company. Your business is valued by all our staff, everywhere.
As we start off 2008, I would like to re-iterate my belief and desire, to become the leader in our industry. Omni has maintained a strategic and disciplined focus on this goal.
I'm pleased to share some exciting news, in support of that vision and goal, staying true to our long term objective.
Omni Facility Services Canada has agreed in principle to merge with Groupe Distinction, based out of Montreal, Quebec. This deal is in principle and routinely subject to approval by the Toronto Stock Exchange (TSX) and lenders. This transaction is scheduled to be finalized on or before April 15, 2008. The nature and format of this deal is a merger acquisition stock swap. (TSX:GD)
With this transaction, Omni and Distinction will maintain significant Canadian market share, in addition to 17 staffed offices, 8000 employees and annual revenue in excess of $200 million. Our combined services include multiple building services, such as janitorial, grounds maintenance, as well as mechanical, electrical and plumbing services and disaster restoration. Each company will be independently operated and managed given the structure; with little or no impact on the staff and clientele of the companies. This transition is expected to be seamless and disciplined in nature.
Omni President & CEO Neil Lathangue, "Both Distinction and Omni have secured significant brands within our markets, this transaction is in keeping with our broader vision of maximizing Omni's national platform, leverage beyond it's market value, systemization and national standards as well as our North American wide potential."
Distinction President & CEO Claude Bigras, “This transaction supports our goal of delivering a leading North American building services platform. We recognize the impressive and experienced management teams of our group, and view this as a meaningful vehicle to drive our success within Canada and the United States."
At this time I would like to emphasize, it remains business as usual for our groups with little or no anticipated changes in how we operate or manage our company, with the broader and long term goal in motion. This transaction will assist us to develop additional competencies and further realize our growth strategies.
The next several years are sure to be exciting and full of potential and opportunity.
Once again, I thank you for your business and support.
Neil Lathangue,
Chief Executive Officer
Omni Facility Services Canada Ltd.