Plenary Group and Serco Reach Financial Close on Driver Examination Services Contract
28 Jun, 2013, 09:10 ET
TORONTO, June 28, 2013 /CNW/ - Plenary Group and Serco Inc., working as a consortium, announced today that they have been awarded the 10 year contract to provide Driver Examination Services for the Ontario Ministry of Transportation (MTO). The contract will generate an estimated $800 million in shared revenues over the contract term.
The successful bidders will provide application processing and the delivery of vision, knowledge and road testing across all license categories. Serco will oversee approximately 575,000 knowledge tests and 675,000 road tests annually at 95 testing centers across Ontario. Under the new contract, Serco's role will be expanded to include upgrading and enhancing information technology solutions to improve processing, scheduling and the delivery of services to drivers.
"Serco proudly embraces the mission of the Ministry of Transportation to deliver high quality testing services throughout the province," said Ed Casey, Serco's Chairman and Chief Executive Officer. "Being awarded this re-compete contract will allow Serco to further our support for our client and continue to enhance road user safety throughout Ontario."
Plenary Group is the developer, equity investor and debt arranger for the project. In this capacity, Plenary Group has made significant financial commitments to guarantee the consortium's service delivery performance for the concession term.
"We are thrilled to be forging a new relationship with MTO and Serco," said Brian Budden, Senior Vice-President of Plenary Group. "We look forward to building on our partnership over the next ten years and to ensuring excellence in service delivery and improved technology solutions to benefit Ontario's drivers and travelers."
About Serco Inc.: Serco Inc. is a wholly-owned subsidiary of Serco Group plc, a $7.5 billion international business that helps transform government and public services around the world. Serco is a FTSE 100 international service company, which combines commercial know-how with a deep service ethos. Around the world, we improve essential services by managing people, processes, technology and assets more effectively. We advise policy makers, design innovative solutions, integrate systems and - most of all - deliver to the public. Our people offer operational, management and consulting expertise in the aviation, business process outsourcing, defense, education, environmental services, facilities management, health, home affairs, information and communications technology, knowledge services, local government, science and nuclear, transport, welfare to work and the commercial sectors. More information can be found www.serco-na.com.
About Plenary Group: Plenary Group is one of North America's leading specialized developers of long-term Public-Private Partnership (P3) and Alternative Financing and Procurement (AFP) projects, with over $6 billion in project capitalization, across Canada. For more information about Plenary Group, please visit the company's website at www.plenarygroup.com.
SOURCE: Serco Inc.
For further information:
Alan Hill, Serco Inc., 703-939-6500, [email protected]; Olivia MacAngus, Plenary Group, 416-902-9695, [email protected]
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