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Shepell·fgi Announces Acquisition By Morneau Sobeco Income Fund
Transaction brings together leaders in both health & productivity services and pensions & benefits
TORONTO, May 12, 2008 Shepell·fgi and Morneau Sobeco Income Fund (TSX: MSI.UN) announced today that they have entered into an agreement to join together to offer an enhanced range of health and productivity solutions to Canadian employers.
Together, Shepell·fgi and Morneau Sobeco creates a dynamic organization with enhanced growth opportunities. Shepell·fgi and Morneau Sobeco will offer clients a more complete range of solutions to meet emerging human resources needs in the coming years by leveraging and maintaining the established expertise of both firms. The acquisition doubles the size of the company in both revenues and employee base.
According to Rod Phillips, President and CEO of Shepell·fgi: "We are convinced that the issues facing employers today and tomorrow call for a focus on improving health and productivity. Our business will thrive by having the right people, the right offerings, the right technology, and the right approach. I am excited by the opportunities presented by a partnership with an industry leader like Morneau Sobeco."
William Morneau, Chairman and Chief Executive Officer of Morneau Sobeco, adds: "Employers face increasing challenges in managing the health and productivity of their workforce. Shepell·fgis recognized leadership in workplace health and productivity solutions will complement our firms leadership in pensions and benefits, and thereby serve a broader spectrum of organizations human resource management needs."
Morneau Sobeco and Shepell·fgi will maintain their existing leadership teams and brand identities, and will continue using their current client service models. Morneau Sobeco and Shepell·fgi will continue to serve their clients independently.
About Shepell·fgi
Shepell·fgi is Canadas leading provider of health and productivity solutions, including prevention-focused Employee Assistance Programs, Employee Health Management and Workplace Training and Education. In business for 28 years, the company has 1,150 employees and services over eight million employees and their families across Canada, the United States and internationally. Shepell·fgi has its head office in Toronto and has regional offices in Halifax, Montral, Ottawa, Winnipeg, Calgary, Edmonton and Vancouver, as well as U.S. offices in San Francisco, Minneapolis, and suburban New York City. Further information about Shepell·fgi can be obtained on the firms web site at www.shepellfgi.com.
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About Morneau Sobeco
Morneau Sobeco is the largest Canadian-owned pension and benefits consulting and outsourcing firm, providing services to organizations across Canada and in the United States. With over 1,200 employees in offices in 12 cities across North America, Morneau Sobeco has focused on the integrated design and delivery of pension and benefit plans for over 40 years. Units of Morneau Sobeco Income Fund trade on the Toronto Stock Exchange under the symbol MSI.UN. Further information about Morneau Sobeco can be obtained on the firms web site at www.morneausobeco.com.
FOR MORE INFORMATION OR TO BOOK AN INTERVIEW CONTACT:
Name: Karen Seward
Phone: (416) 355-5410
Email: kseward@shepellfgi.com
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