2009
10.16
10.16
the company completed a $100 million equity financing (and the issuance
of 3.8 million units).
These funds are expected to be used to finance ongoing acquisition activity.
GENIVAR has acquired 11 companies year to date (14 in 2008). GENIVAR
had net debt at the end of Q2 of $35 million, with LTM acquisition costs of
$36 million (not including the three acquisitions completed in Q3).
With these latest acquisitions, GENIVAR has close to 4,000 employees
across Canada, although we believe there is still room to grow in Ontario
and Western Canada. We might also expect the company to expand into the
U.S. and internationally over the coming years.
The company also remains
well positioned to capitalize on infrastructure spending.
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