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Increases rank to 301st with five-year revenue growth of 176%
WINNIPEG, June 12, 2014 /CNW/ - Boyd Group Income Fund (TSX: BYD.UN) ("the Fund" or "the Boyd Group") today announced that it has been ranked 301st in the 26th annual PROFIT 500 ranking of Canada's Fastest-Growing Companies by PROFIT Magazine. Published in the July issue of Canadian Business and online at PROFITguide.com, the PROFIT 500 ranks Canadian businesses by their revenue growth over five years.
"We are very pleased to be recognized again for our growth, which is a testament to the effectiveness of our strategy and the hard work of our team," said Brock Bulbuck, President and Chief Executive Officer of the Boyd Group. "I personally extend my gratitude to the entire Boyd Group team across North America for their commitment and dedication to making us the largest operator of collision repair centres in North America and helping us consistently deliver profitable growth and value for our unitholders."
The Boyd Group made the 2014 PROFIT 500 list with five-year revenue growth of 176 percent. In 2013, Boyd achieved a rank of 372 on the list with a revenue growth of 120 percent over the previous five years.
"The members of the PROFIT 500 are the elite of the country's entrepreneurial community," added James Cowan, Editor-in-Chief of Canadian Business and PROFIT. "Their stories are lessons in business strategy, innovation, management excellence and sheer tenacity."
About PROFIT and PROFITguide.com
PROFIT: Your Guide to Business Success is Canada's preeminent media brand dedicated to the management issues and opportunities facing small and mid-sized businesses. For 32 years, Canadian entrepreneurs across a vast array of economic sectors have remained loyal to PROFIT because it's a timely and reliable source of actionable information that helps them achieve business success and get the recognition they deserve for generating positive economic and social change. Visit PROFIT online at PROFITguide.com.
About Canadian Business
Founded in 1928, Canadian Business is the longest-serving, best-selling and most-trusted business publication in the country. With a readership of more than 800,000, it is the country's premier media brand for executives and senior business leaders. It fuels the success of Canada's business elite with a focus on the things that matter most: leadership, innovation, business strategy and management tactics. We provide concrete examples of business achievement, thought-provoking analysis and compelling storytelling, all in an elegant package with bold graphics and great photography. Canadian Business—what leadership looks like.
About The Boyd Group Income Fund
The Boyd Group Income Fund (http://www.boydgroup.com) 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 Units trade on the Toronto Stock Exchange (TSX) under the symbol BYD.UN.
About The Boyd Group Inc.
The Boyd Group Inc. is the largest operator of non-franchised collision repair centers 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 15 U.S. states under the trade names Gerber Collision & Glass (http://www.gerbercollision.com), Hansen Collision, Collision Revision and Collex Collision Experts. The Company is also a major retail auto glass operator in the U.S. with locations across 28 U.S. states under the trade names Gerber Collision & Glass, Glass America, Auto Glass Services, Auto Glass Only, Auto Glass Authority, S&L Glass and Hansen Auto Glass. The Company also operates two third party administrators that offer first notice of loss, glass and related services. Gerber National Glass Services is an auto glass repair and replacement referral business with approximately 3,000 affiliated service providers throughout the U.S. under the "Gerber National Glass Services" name and "Netcost Claims Services" which in addition to its referral business, also owns and operates its own call centre and offers roadside assistance services. 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:
President & CEO
Tel: (204) 594-1770