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TORONTO/SUDBURY, ON, May 24, 2013 /CNW/ - Collins Barrow is pleased to announce that Alaris Royalty Corp. ("Alaris" or the "Corporation") (TSX: AD) has entered into a new partnership agreement (the "Partnership Agreement") with SCR Mines Technology Inc. ("SCR") effective May 23, 2013, forming SCR Mining and Tunneling L.P. (the "Partnership"). Pursuant to the Partnership Agreement, Alaris has contributed $40,000,000 to SCR. Collins Barrow acted as exclusive financial advisor to SCR.
"The Partnership will provide a significant opportunity for SCR to work with the team at Alaris to expand its footprint across the many development projects in Canada that are seeking a strong and experienced contracting company to deliver on-time and on-budget," say Rick and Claude Seguin, co-owners of SCR. "SCR is looking forward to working with Alaris and developing a strong and beneficial relationship, not just with the Alaris team but also with Alaris' other partner companies."
"The fit between Alaris and SCR is extraordinarily strong and strategic," says Tracey Strauss, Partner, Collins Barrow Toronto. "Rick and Claude Seguin, the founders of SCR are two of the most dedicated and innovative entrepreneurs that we have had the privilege of working with and I commend them and their team for the incredible business they have built. We are excited to see this partnership continue to expand nationally."
About Collins Barrow
Recognized as Canada's mid-market leader for audit, tax and advisory solutions, our association of 22 independent member firms comprises the eighth largest public accounting group nationally by revenue. Through our strong network infrastructure, shared expertise, resources and offices from coast to coast, we provide clients ranging in size from large, publicly traded companies to owner-managed and emerging businesses with a full complement of professional services across every major industry sector.
About SCR Mines Technology Inc.
SCR has operated in the Northern Ontario region for over 20 years and offers a comprehensive suite of services, on a contract basis, to customers ranging from large multi-national producers to newer development companies in the metals and mining sector. The Company has the reputation, experience, technical strength and infrastructure to undertake large and small scale turn-key projects in construction, mining, electrical and mechanical services. SCR provides services through the entire life cycle of a mine, from mine development through operation to rehabilitation; including site preparation (clearing, drilling and blasting, etc.), mining services (including shaft sinking, lateral and vertical developments, and production mining), construction of mine infrastructure (electrical distribution systems, switch rooms, transportation infrastructure, fuel bays, ventilation systems, refuge systems etc.), and the provision of ongoing and continuous maintenance support. SCR employs approximately 250 dedicated workers.
About Alaris Royalty Corp.
The Corporation provides alternative financing to a diversified group of private businesses ("Private Company Partners") in exchange for royalties or distributions from the Private Company Partners, with the principal objective of generating stable and predictable cash flows for dividend payments to its shareholders. Royalties or distributions to Alaris from the Private Company Partners are structured as a percentage of a "top line" financial performance measure such as gross margin, same clinic sales, gross revenues and same-store sales and rank in priority to the owners' common equity position.
SOURCE Collins Barrow National Cooperative Incorporated