This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Morneau Shepell Acquires Dion Durrell's Workers' Compensation Business

Stocks in this article: MSI

Acquisition increases company client base and market share

TORONTO, 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 Morneau Shepell.

"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 Dion Durrell.

"Joining with 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 North America, Morneau Shepell provides services to organizations across Canada, in 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 morneaushepell.com.

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.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs