Business
Calian Continues European Expansion with Acquisition of UK-based Training Company
OTTAWA, ON / ACCESSWIRE / November 2, 2020 / Calian Group Ltd. (TSX:CGY) has broadened its p...
About this update from Calian Group Ltd.
[{"type":"text","content":"Calian Continues European Expansion with Acquisition of UK-based Training CompanyOTTAWA, ON / ACCESSWIRE / November 2, 2020 / Calian Group Ltd. (TSX:CGY) has broadened its presence in Europe with the acquisition of Cadence Consultancy Limited (Cadence), a UK based training firm with operations across the North Atlantic Treaty Organization (NATO), with a particular focus on the Joint Forces Training Centre (JFTC) in Bydgoszcz, Poland.Cadence designs, develops and delivers complex training exercises for JFTC, one of the two multi-national and multi-service collective training centers in NATO, and to the wider NATO audience across Europe. It also delivers operational training to members of the NATO Mission Iraq and the NATO Resolute Support Mission in Afghanistan.Chesney Clark and Howard Chaganis, co-owners of Cadence stated \"It is very exciting to be joining the Calian team - together we are better positioned to continue our important training delivery to NATO, while expanding business in Europe.\"\"I look forward to working with Chesney and Howard and their team as we continue to expand our business in the European market. Calian's presence in Europe is helping fuel growth in our delivery of a broad range of learning services: ranging from program administration and traditionally delivered programs through to immersive advanced training technologies. We also expect to see synergy in the capabilities of Cadence, and our recent acquisition of Comprehensive Training Solutions (CTS).\" stated Don Whitty, President Calian Learning \"Our many years of honing and innovating these services with the Canadian military is very well regarded in NATO and broader European markets.\"\"With trailing annual revenues of approximately $3 million and a positive EBITDA track record, we expect Cadence to be EBITDA accretive immediately,\" said Patrick Houston, Chief Financial Officer, Calian. \"Their presence in the UK and Poland, combined with our established footprint in Norway and Germany, supports Calian's access to the European market which continues to be a key focus of Calian's growth strategy.\"\"I would like to extend a very warm welcome to the Cadence team,\" said Kevin Ford, President and Chief Executive Officer, Calian. \"The European market has significant importance to Calian. Last year we acquired Germany-based SatService, an innovativ...