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Acquisition increases company client base and market shareTORONTO,
July 5, 2013 /CNW/ - Morneau Shepell Inc. (the "Company" or "Morneau Shepell") (TSX: MSI) and Dion, Durrell + Associates Inc. ("Dion Durrell") jointly announced today the sale of
Dion Durrell's workers' compensation business to
"With this strategic, tuck-in acquisition, we are expanding our national workers' compensation practice," said
Zahid Salman, Executive Vice President of
Morneau Shepell responsible for the
Ontario and Western Canada Regions, as well as the Organizational Health Solutions line of business. "It strengthens our Organizational Health Solutions line of business which consists of three core services including attendance and disability management, occupational health services and workers' compensation services. It is also in line with our stated strategy to grow our business profitably through acquisitions that complement our existing service offerings, or expand our market presence."
"With the addition of this team of employees, we are adding to
Morneau Shepell's portfolio of clients and market share in workers' compensation services, providing opportunities to expand and deepen our relationships with the new clients," said
Julien Ponce, Executive Vice-President for
Morneau Shepell responsible for the
Quebec and Atlantic Canada Regions. "There is a large demand for workers' compensation services in this area. With this acquisition, we are better able to meet and serve that demand. Our clients rely on us for financial advice and workers' compensation claims management."
"We are pleased to be able to reposition our business in a way that is most advantageous to our clients' on-going strategic needs," said
Joel Cohen, Chief Executive Officer of
Canada's largest human resources consulting and outsourcing firm will enable our clients to leverage
Morneau Shepell's expertise in both the workers' compensation and all their other practice areas," added
Sylvain Lebel, the head of the worker's compensation practice for
Dion Durrell. Mr. Lebel is the unit leader moving to
Morneau Shepell along with the rest of his team members. "Given that there are a number of clients who are already clients of
Morneau Shepell for other services, I expect this to be a seamless and easy transition."
The workers' compensation team of
Dion Durrell is based in Québec and serves clients across the country.
This acquisition represents less than one percent of
Morneau Shepell's revenue and is not expected to have a material impact on the company's financial performance in 2013.
About Morneau Shepell Inc.Morneau Shepell is the largest company in
Canada offering human resources consulting and outsourcing services. The Company is the leading provider of Employee and Family Assistance Programs, as well as the largest administrator of pension and benefits plans. Through health and productivity, administrative, and retirement solutions,
Morneau Shepell helps clients reduce costs, increase employee productivity, and improve their competitive position. Established in 1966,
Morneau Shepell serves more than 8,000 clients, ranging from small businesses to some of the largest corporations and associations in
North America. With approximately 3,000 employees in offices across
Morneau Shepell provides services to organizations across
the United States, and around the globe.
Morneau Shepell is a publicly-traded company on the Toronto Stock Exchange (TSX: MSI). For more information, visit
About Dion, Durrell + Associates Inc.Dion Durrell is an employee-owned actuarial consulting and risk management firm headquartered in
Toronto, Ontario. Established in 1995, the firm provides actuarial, risk management and reinsurance services to a range of clients in
Canada and internationally.
SOURCE Morneau Shepell Inc.