OTTAWA, January 7, 2021 - Calian® Group Ltd., (TSX:CGY) a provider of trusted products and solutions announces the closing of a CDN $80 million debt agreement with Royal Bank of Canada ("RBC") and Desjardins Capital Markets ("Desjardins").
Access to additional liquidity to fuel Calian's growth strategy
This new three-year term for $80 million with RBC and Desjardins comes with an accordion of $40M for total availability of up to $120 million and replaces the existing credit line with RBC. The long-term committed capital enables Calian to continue to execute its growth strategy that includes, entry into new markets, product development, acquisition integration, and continued focus on new mergers and acquisitions ("M&A").
"Calian's demonstrated growth strategy consists of organic and acquisitive growth in all four of our operating segments" says Patrick Houston, Chief Financial Officer, Calian. "Closing this debt agreement with RBC and Desjardins demonstrates confidence in our strategy, our strong financial position and provides the liquidity to execute on our M&A pipeline."
Calian's diverse capabilities are delivered through four operating segments: Advanced Technologies, Health, Learning, and Information Technology. In 2020, Calian completed six M&As, achieved 20% organic growth, and reported its 76th consecutive profitable quarter, culminating in record revenue and EBITDA of $432M and $37M respectively.