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Medwell Capital and GDI Integrated Facility Services announce arrangement and concurrent public offering

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CEO of GDI Integrated Facility Services Inc.

On March 31, 2015, Medwell Capital Corp. and GDI Integrated Facility Services Inc. entered into an arrangement agreement relating to a transaction pursuant to which Medwell Capital proposes to acquire, among other things, all of the issued and outstanding securities of GDI in exchange for the issuance of shares of the company and a cash consideration. Pursuant to the arrangement agreement, the company was assigned a value fixed at $11,200,000, an amount equal to approximately $1.54 per currently issued and outstanding common share of the company. As part of the arrangement, GDI was combined into Medwell to form a single entity to be renamed "GDI Integrated Facility Services Inc." carrying on the business of GDI. In connection with the arrangement, a public offering of securities was carried out by the company, which closed concurrently with the arrangement. GDI is a Montréal-based janitorial services provider which offers a range of commercial cleaning services and other complementary services such as mechanical maintenance services, damage restoration services, and janitorial and sanitation supplies to owners or managers of large property portfolios and large specialized facilities in Canada and the United States. GDI's services are used by the majority of the largest multi-property owners or managers in Canada and by an increasing number of clients in the United States. Fasken Martineau advised the CEO of GDI Integrated Facility Services Inc., with a team including Michel Boislard and Caitlin Rose.



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