Purchase of US company providing problem gambling services, drug testing management and employee and family assistance programs, expands US operations
TORONTO, Dec. 1, 2015 /CNW/ - Morneau Shepell (the "Company" or "Morneau Shepell") (TSX: MSI), a leading provider of employee and family assistance programs (EFAPs), human resources consulting and technology, today announced that it has completed the acquisition of Bensinger, DuPont & Associates (BDA), a US leader in EFAPs, problem gambling services and drug testing management.
"This acquisition affirms our commitment to expand our operations and service offerings globally, with a particular emphasis on the US market," said Stephen Liptrap, Executive Vice President and General Manager, Morneau Shepell. "Workplace issues are increasingly complex and organizations are looking to experts for assistance. As a result of this deal, we are pleased to welcome a talented team of specialists who will help drive our continued growth and meet the unique and ever-evolving needs of our clients."
In business for more than three decades, BDA was founded by Peter Bensinger and Dr. Robert DuPont who are known for their influence on national drug, behavioural health and employment policy in the US. Peter Bensinger, former Administrator of the US Drug Enforcement Administration, is staying on at BDA as a consultant for two years to support the transition.
"Joining Morneau Shepell is a solid step forward for the growth of our company, the service we provide our clients and for increased opportunity for our employees," said Peter Bensinger, President and Chief Executive Officer, Bensinger, DuPont & Associates. "It represents a good fit in values and will let us expand our service offerings with Morneau Shepell's clinical best practices, technology and worldwide presence."
More than 75 highly-experienced professionals from BDA have joined Morneau Shepell. With the purchase, all BDA clients will see their services continued uninterrupted. These clients will work with the same team members who know them, their business and their needs.
In 2012, Morneau Shepell acquired US-based SBC Systems to enhance its benefits administration platform (the Ariel™ system). Earlier this year, the Company acquired the US health and welfare benefits administration business of Ceridian. In June, Morneau Shepell was named one of the top five defined benefit pension plan providers in the United States by PLANSPONSOR magazine.
In addition to the existing Morneau Shepell offices in the United States in Atlanta, Pittsburgh, St. Petersburg and Salt Lake City, this transaction will extend the Company's US presence by adding offices in Chicago and San Diego.
This acquisition represents approximately two per cent of Morneau Shepell's revenue and is not expected to have a material impact on the Company's financial performance in 2015.
About Morneau Shepell Inc.
Morneau Shepell is the only human resources consulting and technology company that takes an integrative approach to employee assistance, health, benefits and retirement needs. The Company is the leading provider of employee and family assistance programs, as well as the largest administrator of retirement and benefits plans and the largest provider of integrated absence management solutions in Canada. Through health and productivity, administrative, and retirement solutions, Morneau Shepell helps clients reduce costs, increase employee productivity and improve their competitive position. Established in 1966, Morneau Shepell serves approximately 20,000 clients, ranging from small businesses to some of the largest corporations and associations in North America. With almost 4,000 employees in offices across North America, Morneau Shepell provides services to organizations across Canada, in the United States, and around the globe. Morneau Shepell is a publicly-traded company on the Toronto Stock Exchange (TSX: MSI). For more information, visit morneaushepell.com.
About Bensinger, DuPont & Associates
Bensinger, DuPont & Associates promotes healthy outcomes for the workplace, employees, individuals and their families. Originally founded to provide Drug-Free Workplace consultation and policy development in 1982, BDA began offering employee and family assistance services in 1986. Today, it is one of the largest EFAPs in the nation, serving approximately 10 million lives. BDA also provides innovative problem gambling services, serving 11 states, drug testing management services and customized help lines. This comprehensive portfolio of offerings illustrates its commitment to helping people navigate life's challenges and supporting organizations' focus on healthy, sustainable business practices. For more information, visit bensingerdupont.com.
SOURCE Morneau Shepell - Corporate