Toronto, Ontario, December 17, 2021 – Dexterra Group Inc. (“Dexterra Group” or the “Company”) (TSX: DXT.TO) announces the signing of a purchase agreement to acquire 100% of privately owned, Canadian food services company Dana Hospitality LP (“Dana Hospitality”) from Fulcrum Capital Partners (“Fulcrum”) for $31.5 million subject to normal closing adjustments. The transaction is expected to close in early January 2022.
This acquisition brings an established and unique culinary and hospitality brand with a quality sales and management team and an excellent customer list to Dexterra. It also expands Dexterra’s culinary footprint into education, entertainment, healthcare, and leisure activities and has approximately $100 million in annual contracts. Management anticipates realizing the full value, including synergies of the book of business in 2023.
“We are thrilled to be announcing the first acquisition in our M&A strategy by bringing Dana Hospitality, an asset-light facilities management services business with a great reputation, into the Dexterra family,” says John Mac Cuish, Chief Executive Officer, Dexterra Group. “Dana’s high quality client list and superior food and service levels were very attractive and give us a great foundation to build upon.”
John Philp, Partner, Fulcrum Capital Partners, noted “We have enjoyed working with the Dana team over the past several years and are confident that its employees and clients will benefit from Dexterra’s scale and complementary service offerings.”
About Dexterra Group
Dexterra Group employs more than 6,000 people across Canada and delivers a range of support services for the creation, management, and operation of infrastructure across Canada.
Powered by people, Dexterra Group brings best-in-class regional expertise to every challenge and delivers innovative solutions, giving clients confidence in their day-to-day operations. Activities include a comprehensive range of facilities management services, industry leading workforce accommodation solutions, innovative modular building capabilities, and other support services for diverse clients in the public and private sectors.
About Dana Hospitality LP
Dana Hospitality provides food services to corporations, education and healthcare institutions across Canada under the Dana Hospitality and Marek Hospitality brands.
For further information contact:
Drew Knight, CFO, Dexterra Group
Head office: Airway Centre, 5915 Airport Rd., 4th Floor Mississauga, Ontario L4V 1T1
Telephone: (416) 767-1148
