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WINNIPEG, April 28, 2015 /CNW/ - Boyd Group Income Fund (TSX: BYD.UN) ("the Fund", "the Boyd Group" or "Boyd") is pleased to announce the nomination of Sally A. Savoia to stand for election on its Board of Trustees. Ms. Savoia was most recently Corporate Vice President and Chief Human Resources Officer, USA for Praxair, Inc., an international industrial gases supplier with 2014 revenues of US$12.3 billion.
"With 32 years experience in a large multinational organization, Sally would be a valuable addition to our Board." said Allan Davis, Independent Chairman of Boyd's Board of Trustees. "As the Boyd Group has grown to over 300 centres in multiple markets, it is important that the strengths and skills of the Board are broadened and diversified. Sally's unique perspective will be important as the Board continues to work with Management to plan strategies for the future that will sustain ongoing profitable growth"
As was stated in the Fund's annual report, Mr. Wally Comrie, the Chair of the Corporate Governance and Nomination Committee, has decided to retire as a Trustee effective at the next annual meeting. Wally was an advisor to the company at the initial business planning stage, an initial Board member when Boyd first went public in 1998, and has been a Trustee of the Fund since its inception in 2002. The Board of Trustees and Management of the Boyd Group would like to thank Wally for his many years of dedicated contributions to the success of the Fund.
The Boyd Group Income Fund will hold its Annual Meeting on May 25, 2015 in Winnipeg, Manitoba.
About The Boyd Group Income Fund
The Boyd Group Income Fund is an unincorporated, open-ended mutual fund trust created for the purposes of acquiring and holding certain investments, including a majority interest in The Boyd Group Inc. and its subsidiaries. The Boyd Group Income Fund units trade on the Toronto Stock Exchange (TSX) under the symbol BYD.UN. For more information on The Boyd Group Inc. or Boyd Group Income Fund, please visit our website at http://www.boydgroup.com.
About The Boyd Group Inc.
The Boyd Group Inc. (the "Company"), directly and through subsidiaries, is the largest operator of non-franchised collision repair centres in North America in terms of number of locations and one of the largest in terms of sales. The Company operates locations in five Canadian provinces under the trade name Boyd Autobody & Glass (http://www.boydautobody.com), as well as in 17 U.S. states under the trade names Gerber Collision & Glass (http://www.gerbercollision.com) and Champ's Collision Centers. The Company is also a major retail auto glass operator in the U.S. with locations across 29 U.S. states under the trade names Gerber Collision & Glass, Glass America, Auto Glass Service, Auto Glass Authority and Autoglassonly.com. The Company also operates a third party administrator, Gerber National Claims Services ("GNCS") that offers first notice of loss, glass and related services. GNCS has approximately 5,500 affiliated glass provider locations and 4,600 affiliated emergency roadside services providers throughout the U.S. For more information on The Boyd Group Inc. or Boyd Group Income Fund, please visit our website at (http://www.boydgroup.com).
Caution concerning forward-looking statements
Statements made in this press release, other than those concerning historical financial information, may be forward-looking and therefore subject to various risks and uncertainties. Some forward-looking statements may be identified by words like "may", "will", "anticipate", "estimate", "expect", "intend", or "continue" or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on such statements, as actual results may differ materially from those expressed or implied in such statements. Factors that could cause results to vary include, but are not limited to: dependence upon The Boyd Group Inc. and its Subsidiaries; cash distributions not guaranteed; inability to successfully integrate acquisitions; economic downturn; operational performance; rapid growth; loss of key customers; brand management and reputation; insurance risk; quality of corporate governance; tax position risk; risk of litigation; acquisition risk; credit & refinancing risks; dependence on key personnel; employee relations; decline in number of insurance claims; market environment change; reliance on technology; weather conditions; expansion into new markets; fluctuations in operating results and seasonality; increased government regulation and tax risk; Canadian tax related risk; execution on new strategies; operating hazards; energy costs; U.S. health care costs and workers compensation claims; low capture rates; key supplier relationships; capital expenditures; competition; potential undisclosed liabilities associated with acquisitions; foreign currency risk; margin pressure; acquisition and start-up growth and ongoing access to capital; environmental, health and safety risk; interest rates; unitholder liability limitation and the Fund's success in anticipating and managing the foregoing risks.
We caution that the foregoing list of factors is not exhaustive and that when reviewing our forward-looking statements, investors and others should refer to the "Risk Factors" section of the Fund's Annual Information Form, the "Risks and Uncertainties" and other sections of our Management's Discussion and Analysis of Operating Results and Financial Position and our other periodic filings with Canadian securities regulatory authorities. All forward-looking statements presented herein should be considered in conjunction with such filings.
SOURCE Boyd Group Income Fund
For further information: Brock Bulbuck, President & CEO, Tel: (204) 594-1770, [email protected]; Craig MacPhail, Investor Relations, Tel: (416) 815-0700 or toll free 1-800-385-5451 (ext. 290), [email protected]