Guardian Capital Group Limited to Acquire Galibier Capital Management Ltd.
20 Juin 2024 - 1:20PM
Guardian Capital Group Limited (Guardian) (TSX:GCG) (TSX:GCG.A)
announced today that it has reached an agreement under which
Guardian’s wholly-owned subsidiary will acquire Galibier Capital
Management Ltd., an independent Toronto-based investment management
firm.
The Galibier team invests on behalf of a range
of institutions and individuals through separate accounts and
pooled funds. Subject to customary closing conditions, including
obtaining regulatory approvals, the transaction is expected to
close in summer 2024. Following closing, Galibier will continue to
be led by its current management and investment team. The
acquisition is expected to add more than $1 billion CAD to
Guardian’s assets under management.
“We are thrilled Galibier is joining the
Guardian group of companies,” said George Mavroudis, Guardian’s
President and Chief Executive Officer. “Its distinctive investment
approach, philosophy and process will be a welcome addition to
Guardian’s existing portfolio management expertise. Guardian has
also demonstrated a long-term commitment to investing in Canadian
and other public equity markets, and as we look to further develop
our capabilities in these areas we see our combined future as full
of promise.”
“Guardian and Galibier share core values, and we
are excited to become part of an organization so culturally
aligned,” said Joe Sirdevan, Galibier’s Chief Executive Officer.
“Joining the Guardian organization, with its depth of resources,
will let the Galibier team continue to focus on what matters most:
delivering investment excellence to our clients.”
Guardian was represented by Borden Ladner
Gervais LLP, and Galibier was represented by Gardiner Roberts
LLP.
For further information, please contact:
Angela Shim416-947-8009
About Guardian Capital Group Limited
Guardian Capital Group Limited (“Guardian”) is a
global investment management company servicing institutional,
retail and private clients through its subsidiaries. As at March
31, 2024, Guardian had C$61.3 billion of total client assets while
managing a proprietary investment portfolio with a fair market
value of C$1.25 billion. Founded in 1962, Guardian’s reputation for
steady growth, long-term relationships and its core values of
authenticity, integrity, stability and trustworthiness have been
key to its success over six decades. Its Common and Class A shares
are listed on the Toronto Stock Exchange as GCG and GCG.A,
respectively. To learn more about Guardian, visit
www.guardiancapital.com.
About Galibier Capital Management Ltd.
Galibier Capital Management Ltd., founded in
2012, is an independent, investment process driven investment
management firm based in Toronto, Ontario. Galibier provides
investment advisory services through separately managed accounts
and pooled funds, in accordance with its philosophy of Growth. At a
Reasoned Price™. Its client base includes corporations, pensions,
charitable foundations and endowments. To learn about Galibier,
visit https://galibiercapital.com.
This press release contains forward-looking
statements with respect to Guardian Capital Group Limited and its
products and services, including its business operations and
strategy and financial performance and condition. Although
management believes that the expectations reflected in such
forward-looking statements are reasonable, such statements involve
risks and uncertainties. Actual results may differ materially from
those expressed or implied by such forward-looking statements.
Factors that could cause actual results to differ materially from
expectations include, among other things, general economic and
market factors, including interest rates, business competition,
changes in government regulations or in tax laws, and other factors
discussed in materials filed with applicable securities regulatory
authorities from time to time.
Any forward-looking statements included in this
press release are provided as of the date of this press release and
should not be relied upon as representing Guardian’s views as of
any date subsequent to the date of this press release. Guardian
undertakes no obligation, except as required by applicable law, to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
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