GDI Integrated Facility Services Inc. Announces Birch Hill Equity Partners' Extended Investment

LASALLE, QC, June 4, 2020 /CNW Telbec/ - GDI Integrated Facility Services Inc. ("GDI" or the "Company") (TSX: GDI) is pleased to announce that Birch Hill Equity Partners Management Inc. ("BHEPMI") has extended its investment in GDI through purchase and sale transactions concluded between BHEPMI and its affiliated funds.

BHEPMI, as general partner of each of Birch Hill Equity Partners V, LP, Birch Hill Equity Partners (US) V, LP and Birch Hill Equity Partners (Entrepreneurs) V, LP (collectively, the "Fund V LPs"), entered into a purchase agreement dated June 3, 2020 together with Birch Hill Equity Partners IV, LP, Birch Hill Equity Partners (US) IV, LP and Birch Hill Equity Partners (Entrepreneurs) IV, LP (collectively, the "Fund IV LPs") and the Fund V LPs pursuant to which, among other things, the Fund V LPs agreed to purchase, and the Fund IV LPs agreed to sell, all of the multiple voting shares ("MVS") and subordinate voting shares ("SVS") beneficially owned by the Fund IV LPs in the capital of GDI, being an aggregate of 6,115,111 MVS and 312,496 SVS (collectively, the "Purchased Shares"), for a total purchase price of $208,961,503.57, or $32.51 per Purchased Share.

"BHEPMI has been an important stakeholder and strong supporter of our business ever since their initial investment in GDI in January 2012," stated Claude Bigras, GDI's President and CEO. "BHEPMI is demonstrating a renewed commitment to our business and continued belief in GDI's long-term vision by transferring their holdings from the Fund IV LPs, which are nearing the end of their investment horizon, to the Fund V LPs."

An early warning report describing the transactions will be electronically filed with the applicable securities commission in each jurisdiction where GDI is reporting and will be available on SEDAR at www.sedar.com.

ABOUT GDI

GDI is a leading integrated commercial facility services provider which offers a range of services in Canada and the United States to owners and managers of a variety of facility types including office buildings, educational facilities, industrial facilities, healthcare establishments, stadiums and event venues, hotels, shopping centres, distribution facilities, airports and other transportation facilities. GDI's commercial facility services capabilities include commercial janitorial and building maintenance, the installation, maintenance and repair of HVAC-R, mechanical, electrical and building automation systems, as well as other complementary services such as janitorial products manufacturing and distribution. GDI's subordinate voting shares are listed on the Toronto Stock Exchange (TSX: GDI). Additional information on GDI can be found on its website at www.gdi.com. 

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

Certain statements in this press release may constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to GDI's future outlook and anticipated events, business, operations, financial performance, financial condition or results and, in some cases, can be identified by terminology such as "may"; "will"; "should"; "expect"; "plan"; "anticipate"; "believe"; "intend"; "estimate"; "predict"; "potential"; "continue"; "foresee"; "ensure" or other similar expressions concerning matters that are not historical facts. In particular, statements regarding GDI's future operating results and economic performance and its objectives and strategies are forward-looking statements. These statements are based on certain factors and assumptions including expected growth, results of operations, performance and business prospects and opportunities, which GDI believes are reasonable as of the current date. While management considers these assumptions to be reasonable based on information currently available to the Company, they may prove to be incorrect. It is impossible for GDI to predict with certainty the impact that the current economic uncertainties may have on future results. Therefore, future events and results may vary significantly from what management currently foresees. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While management may elect to, the Company is under no obligation and does not undertake to update or alter this information at any particular time, except as may be required by law.

SOURCE GDI Integrated Facility Services Inc.