PR Maintenance Group concludes deal to acquire all B.C.I.A.'s shares

The finalization of the transaction will ensure the continuity of B.C.I.A., will secure jobs and allow for the company's clients to continue to be served according to the industry's highest standards

TERREBONNE, QC, May 12 /CNW Telbec/ - PR Maintenance Group announces it has just concluded an agreement with B.C.I.A.'s multiple shareholders to buy the totality of the company's shares. The finalization of the transaction is conditional upon acceptance of the certified proposal which will be submitted to B.C.I.A.'s creditors.

"We are very happy with this agreement. The acquisition will allow us to ensure the continuity of B.C.I.A., preserve jobs and allow for the company's clients to continue to be served according to the industry's highest standards. We have to keep in mind that B.C.I.A., founded in 1998, employs close to 1,000 people, generates revenues of about 30 million dollars and provides services to a diversified clientele composed of major institutional and private clients. We have promising development plans for B.C.I.A.," said PR Maintenance Group's President, Mr. Pierre Robitaille.

"Our current and future clients will greatly benefit from the acquisition of B.C.I.A. Our company has been working for many years in the field of building management and maintenance. Often, in the past, our clients have expressed the desire for us to provide security firm services. If B.C.I.A.'s acquisition materializes, we will offer our clients a more complete service offering, which will enable our group to accelerate its growth," added Mr. Robitaille.

B.C.I.A.'s main shareholders are Mr. Luigi Coretti (the majority shareholder), FIER Ville-Marie, FIER Boréal 02, Capital régional and coopératif Desjardins.

"We realize that B.C.I.A.'s employees are currently going through a period of uncertainty. We hope that the acquisition offer will be concluded as quickly as possible, which will enable us to provide employees with a new, clear and forward-looking framework", said Mr. Robitaille.

PR Maintenance Group has revenues of close to 100 million dollars, employs approximately 3,000 people and services institutional and private clients across Canada, some of them for over 35 years.

SOURCE PR MAINTENANCE GROUP

For further information: For further information: Frédéric Tremblay, (514) 926-4236; Source: PR Maintenance Group

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PR MAINTENANCE GROUP

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