Enhances People Corporation’s Footprint in the Alberta Market, Establishing a Continuous Market Presence in the Calgary to Edmonton Corridor
WINNIPEG, Manitoba, Feb. 25, 2020 — People Corporation (the “Company”) (TSX Venture: PEO) today announced that it has closed the acquisition of Integrated Benefit Consultants Ltd. (“IBC”) (the “Transaction”). Founded in 1997 and headquartered in Red Deer, AB, IBC specializes in providing group benefits consulting services for companies throughout the province of Alberta. Combined with People Corporation’s existing operations in Edmonton, Calgary, and Lethbridge, the addition of IBC increases the Company’s presence in Western Canada. Terms of the Transaction have not been disclosed.
IBC offers group benefits consulting services to approximately 350 clients directly through its Red Deer-based team of 9 employees. IBC’s principals, Kent Seib, Bobby Froese, and Scott Hanrahan, will continue to run the operations as part of People Corporation, and IBC’s talented team of consultants and account managers will continue to provide industry-leading service to clients across the province of Alberta.
“The addition of IBC to the People Corporation family is strategically important to our growth in Alberta as it allows us to establish a continuous market presence across the critical Edmonton-to-Calgary business corridor, while providing a gateway into smaller urban centres and rural communities in the surrounding area,” commented Mr. Laurie Goldberg, Executive Chairman and Chief Executive Officer of People Corporation. Mr. Goldberg continued, “IBC’s excellent reputation, strong client focus, and deep expertise naturally complements our existing business and enhances our operations in the region. We are excited to welcome Kent, Bobby, Scott, and the entire IBC team to the People Corporation family.”
“When we considered the next chapter for our business, it was important to us that we partnered with a firm that shared the same solution-oriented approach and client-service philosophy that has guided our business over the past two decades,” commented Kent Seib, IBC’s Managing Partner. Mr. Seib continued, “People Corporation’s continued investment in technology and broad suite of products and services provides us an opportunity to enhance the value we provide our clients. We are excited to be joining the People Corporation family.”
About People Corporation
People Corporation 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. The Company’s industry experts provide uniquely valuable insight while customizing an innovative suite of services to the specific needs of its clients. Whatever your sector, whatever your scale, putting People Corporation’s expertise and proven track record to work will make a difference to your people and your bottom line.
This news release contains “forward-looking statements” within the meaning of applicable securities laws, such as statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. Use of words such as “may”, “will”, “expect”, “believe”, “intends”, “likely”, or other words of similar effect may indicate a “forward-looking” statement. These statements are not guarantees of future performance and are subject to numerous risks and uncertainties, including those described in the Company’s publicly filed documents (available on SEDAR at www.sedar.com). Those risks and uncertainties include the ability to maintain profitability and manage organic or acquisition growth, reliance on information systems and technology, reputation risk, dependence on key clients, reliance on key professionals and general economic conditions. Many of these risks and uncertainties can affect the Company’s actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statement made by the Company or on its behalf. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. All forward-looking statements in this news release are qualified by these cautionary statements. These statements are made as of the date of this news release and, except as required by applicable law, the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes 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.
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