MONTREAL and TORONTO, Sept. 2, 2014 /CNW Telbec/ - Fiera Capital
Corporation ("Fiera Capital" or the "Firm") (TSX: FSZ), a leading
independent Canadian investment firm, announced today that it acquired
Propel Capital Corporation ("Propel") for a total consideration of up
to $12 million. Propel is a prominent Toronto-based investment firm
which develops, manages and distributes investment solutions to
Canadians with a focus on closed-end funds.
"Strategically, this acquisition, which will be accretive to earnings,
directly contributes to Fiera Capital's near-term growth and leadership
objectives," said Jean-Guy Desjardins, Chairman and CEO of Fiera
Capital. "Propel has an excellent track record raising assets over a
short period of time, and also benefits from a very strong network.
With the Propel team on board, Fiera Capital is further enhancing its
expertise, offering and distribution capabilities in the Canadian
retail investor space."
As a result of the transaction, Propel's operations will be fully
integrated into Fiera Capital's retail segment over the coming months,
and Raj Lala, founder and current President and CEO of Propel, will
assume the role of Executive Vice President, Retail Markets for Fiera
Capital.
"The Propel team is excited to join Fiera Capital, with whom we share a
similar investment and client-focused approach. This will make it
possible for us to continue to serve our existing clients while also
creating new, innovative investment products, and working with advisors
across Canada to implement additional closed-end funds," added Raj
Lala.
About Propel Capital Corporation
Propel develops, manages and distributes innovative investment solutions
for Canadians through various TSX-listed closed-end funds. www.propelcapital.ca
About Fiera Capital Corporation
Fiera Capital Corporation is a leading publicly traded, independent
investment firm, with more than $82 billion in assets under management.
The Firm is one of only a handful of full service, multi-product
investment firms in Canada, offering clients a proven top tier track
record in Canadian and foreign equity and fixed income management as
well as depth and expertise in asset allocation and non-traditional
investments. www.fieracapital.com
Additional information relating to the Firm, including the Firm's annual
information form, is on SEDAR at www.sedar.com.
Forward-Looking Statements
This document may contain certain forward-looking statements. These
statements relate to future events or future performance, and reflect
management's expectations or beliefs regarding future events, including
business and economic conditions and Fiera Capital's growth, results of
operations, performance and business prospects and opportunities. Such
forward-looking statements reflect management's current beliefs and are
based on information currently available to management. In some cases,
forward-looking statements can be identified by terminology such as
"may", "will", "should", "expect", "plan", "anticipate", "believe",
"estimate", "predict", "potential", "continue", "target", "intend" or
the negative of these terms, or other comparable terminology.
By their very nature, forward-looking statements involve inherent risks
and uncertainties, both general and specific, and a number of factors
could cause actual events or results to differ materially from the
results discussed in the forward-looking statements. In evaluating
these statements, readers should specifically consider various factors
that may cause actual results to differ materially from any
forward-looking statement.
These factors include, but are not limited to, market and general
economic conditions, the nature of the financial services industry, and
the risks and uncertainties detailed from time to time in Fiera
Capital's interim and annual consolidated financial statements, and its
Annual Report and Annual Information Form filed on www.sedar.com. These forward-looking statements are made as of the date of this
document, and Fiera Capital assumes no obligation to update or revise
them to reflect new events or circumstances.
SOURCE Fiera Capital Corporation
