LASALLE, QC,
Dec. 2,
2024 /CNW/ - GDI Integrated Facility
Services Inc. ("GDI" or the "Company")
(TSX: GDI) is pleased to announce that it has successfully
concluded the sale of Ainsworth Power Construction ("APC"), an 80
employee business unit within its Technical Services segment
to Tristar Electrical Inc., a wholly-owned subsidiary of Aecon
Utilities Group Inc. APC is a specialized business performing high
voltage work primarily for utilities across Ontario, and is non-core to GDI. APC's
business grew more than five times since our acquisition of
Ainsworth in 2015. We would like to thank the APC team for their
hard work and wish them continued success within the Aecon
team.
ABOUT GDI
GDI is a leading integrated commercial facility services
provider which offers a range of services in Canada and the
United States to owners and managers of a variety of
facility types including office buildings, educational facilities,
distribution centers, industrial facilities, healthcare
establishments, stadiums and event venues, hotels, shopping
centres, airports and other transportation facilities. GDI's
commercial facility services capabilities include commercial
janitorial and building maintenance, energy advisory and system
optimization, the installation, maintenance and repair of HVAC-R,
mechanical, electrical and building automation systems, as well as
other complementary services such as janitorial products
manufacturing. GDI's subordinate voting shares are listed on the
Toronto Stock Exchange (TSX: GDI). Additional information on GDI
can be found on its website at www.gdi.com.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
Certain statements in this MD&A may constitute
forward-looking information within the meaning of securities laws.
Forward looking information may relate to GDI's future outlook and
anticipated events, business, operations, financial performance,
financial condition or results and, in some cases, can be
identified by terminology such as "may"; "will"; "should";
"expect"; "plan"; "anticipate"; "believe"; "intend"; "estimate";
"predict"; "potential"; "continue"; "foresee"; "ensure" or other
similar expressions concerning matters that are not historical
facts. In particular, statements regarding GDI's future
operating results and economic performance, and its objectives and
strategies are forward-looking statements. These statements are
based on certain factors and assumptions including expected growth,
results of operations, performance and business prospects and
opportunities, which GDI believes are reasonable as of the
current date. While management considers these assumptions to be
reasonable based on information currently available to the Company,
they may prove to be incorrect. It is impossible for GDI to
predict with certainty the impact that the current economic
uncertainties may have on future results. Forward-looking
information is also subject to certain factors, including risks and
uncertainties (described in the "Risk Factors" section) that could
cause actual results to differ materially from what GDI
currently expects. Namely, these factors include risks pertaining
to unsuccessful implementation of the business strategy, changes to
business structure, inherent operating risks from acquisition
activity, failure to integrate an acquired company, decline in
commercial real estate occupancy levels, increase in costs which
cannot be passed on to customers, labour shortages, disruption in
information technology systems and execution issues with Strategic
IT projects, increases in interest rates, exchange rate
fluctuations, deterioration in economic conditions, increase in
competition, influence of the principal shareholders, loss of key
or long-term customers, public procurement laws and regulations,
legal proceedings, reputational damage, labour disputes, disputes
with franchisees, environmental, social and governance ("ESG")
considerations, goodwill and long-lived assets impairment charges,
tax matters, key employees, participation in multi-employer pension
plans, legislation or other governmental action, cybersecurity,
data confidentiality and data protection, and public perception of
our environmental footprint, many of which are beyond the Company's
control. Therefore, future events and results may vary
significantly from what management currently foresees. The reader
should not place undue importance on forward-looking information
and should not rely upon this information as of any other date.
While management may elect to, the Company is under no obligation
and does not undertake to update or alter this information at any
particular time, except as may be required by law.
SOURCE GDI Integrated Facility Services Inc.
