Ottawa, Ontario May 7, 2014 - Calian Technologies Ltd. (TSX:CTY) is pleased to announce today that it has acquired Amtek Engineering Services Ltd. of Ottawa, Ontario. Amtek has been in business for 30 years providing engineering services to a variety of government and defence customers and has been a valuable subcontractor to Calian on many contracts with DND.
"With revenues of approximately $15 million, we expect this acquisition to be EBITDA accretive from day one" stated Jacqueline Gauthier, Chief Financial Officer. "Amtek results will be consolidated and reported as part of the Company's Business and Technology Services (BTS) division".
"We are excited about the acquisition of a quality organization such as Amtek. We have worked closely with Amtek on a number of occasions and I believe they will be an excellent cultural fit with our division. We welcome the principals, employees and contractors to the Calian family and look forward to working together with current customers and on future pursuits” stated Kevin Ford, President of Calian’s BTS division.
"A long standing reputation for quality delivery, coupled with an in-depth knowledge of our industry were key determinants when looking for a buyer", stated Lester Sellars, President of Amtek. "Calian fit the bill perfectly and we are thrilled to join forces with such a reputable firm. Our customers will realize the combined benefit of dealing with the same Amtek team that has operated the company for many years, backed by the depth and scale associated with Calian. Likewise, our employees and subcontractors will be able to access a wider range of opportunites within this larger organization."