Unisync to Acquire Vancouver Based Omega Uniform Systems
By Marketwired News
By Marketwired News
VANCOUVER, BC–(Marketwired – June 23, 2015) – Unisync Corp. (TSX VENTURE: UNI)(“Unisync”) is pleased to announce that its wholly owned subsidiary, Unisync Group Limited (“Unisync Group”), has entered into an agreement to acquire a 100% equity interest in Vancouver based Omega Uniform Systems Ltd. (“Omega”), from its existing owners Margaret Ramsdale and her spouse, Greg Kneller. The purchase price involves a combination of cash and 150,000 Unisync common shares at a deemed value of $2.00/share.
The Omega acquisition represents a strategic addition to Unisync’s recent tuck-in acquisition of Ottawa based Carleton Uniforms Inc. and October 2014 announced take-over of the Mississauga Outlet Store located at 6325 Dixie Road, Mississauga, Ontario. “The addition of Omega will provide an experienced and well respected Vancouver based team to more effectively serve the needs of major corporations and government agencies in Western Canada,” commented Unisync Group President Carmin Garofalo.
“Joining Unisync will provide our existing client base with a more automated order and delivery system and a broader product line and sourcing capability,” commented Omega President Margaret Ramsdale. “Unisync Group is Canada’s pre-eminent uniform provider, with quality people and business principals. I am pleased at the prospect of being part of the Unisync Team and look forward to our expanded ability to supply the uniform needs of larger corporate accounts. With the availability of an extended line of duty gear, footwear and other hard goods we will also be in a position to provide a broader product line to better service the needs of Fire Departments, Emergency Medical Services, Transit, Police, Canadian Border Services Agencies and other security related entities in Western Canada.”
About Omega and its President
Founded in 1998, Omega designs, outsources and manufactures uniforms and provides extensive aftercare, on-line ordering systems, warehousing and distribution.
Omega has been on the list of Canada’s Top 100 Women Owned Companies multiple times. Its President, Margaret Ramsdale, was the recipient of the 2010 Enterprising Women Award and responsible for Omega receiving the Image of the Year Award for five consecutive years from the North American Uniform Manufacturers and Distributors Association (NAUMD).
After obtaining a Bachelor of Arts in Canadian Studies and a Diploma of Fashion Design from Concordia University, Margaret joined fashion retailer Le Chateau and over the span of ten years held various buying positions. This was followed by a ten year period at Levi Strauss in Toronto, then a significant tenure with West Coast Apparel where she rose to the position of Vice-President of Merchandising & Design. During this period she completed a Diploma in Textile Science from the Philadelphia College of Textile Science.
Margaret is a founding member of Femmarte, a member of the Women Presidents Organization, serves on the Executive Committee and Board of Directors of the NAUMD, Chair of the Image Apparel Institute, founding member of the Canadian Textile Recovery Effort (CTRE), Director of the Phyllis Gordon Foundation and past Vice-President of the International Women’s Forum/Vancouver.
The Board of Directors of Unisync has unanimously approved the transaction, which is anticipated to close on or before July 31, 2015. “I am impressed with the quality of the Omega staff and the service-oriented business reputation that Margaret and her team have developed in the industry,” commented Unisync Group President Carmin Garofalo. “We believe that the addition of Margaret Ramsdale as a Vice President of the Unisync Group will strengthen our National reach and management capabilities. I am pleased at the opportunity to add Margaret and all of the Omega employees to the Unisync Team.”
Unisync operates through two business segments: Unisync Group Limited of Mississauga, Ontario and Peerless Garments LP of Winnipeg, Manitoba. Unisync Group is a leading customer-focused provider of corporate apparel, serving a list of leading Canadian iconic brands such as Air Canada and Purolator. Peerless Garments specializes in the production and distribution of highly technical protective garments, military operational clothing and accessories for a broad spectrum of Federal, Provincial and Municipal government departments and agencies such as the Armed Forces and the RCMP.
Unisync’s goal is to make the process of ordering, receiving and wearing of apparel, related accessories and duty gear, a pleasant experience. Unisync is a vertically integrated and proudly Canadian enterprise with exceptional capabilities in garment design, domestic manufacturing and off-shore outsourcing, combined with state-of- the-art web based B2B ordering, distribution and program management systems.
For more information on our capabilities, products and services please visit our website at www.unisyncgroup.com.
ON BEHALF OF THE BOARD
Douglas F. Good
Forward Looking Statements
This news release contains forward-looking statements regarding the future success of the business of the Company that is subject to risk and uncertainties. Examples of such forward-looking statements including, but are not limited to, statements concerning the Corporation’s acquisition(s). These forward-looking statements involve known and unknown risk and uncertainties that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied in these forward-looking statements. These risks include risks related to the closing of the acquisition, risks related to newly acquired businesses, uncertainty and dilution of additional financing and ability to service debt, as well as the risk factors described in the Corporation’s Management Discussion and Analysis filed on SEDAR at www.sedar.com, and the risks to be described in any Management Information Circular and/or Filing Statement to be prepared in connection with the transaction. The forward-looking statements contained herein are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Except as required by law, the Company undertakes no obligation to publicly update or revise any such forward-looking statements to reflect any change in its expectations or in events, conditions or circumstances on which any such forward-looking statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.
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