People Corporation Announces Acquisition of Integrated Benefit Consultants Ltd.

Enhances People Corporation’s Footprint in the Alberta Market, Establishing a Continuous Market Presence in the Calgary to Edmonton Corridor

WINNIPEG, Manitoba, Feb. 25, 2020 (GLOBE NEWSWIRE) -- People Corporation (the "Company") (TSX Venture: PEO) today announced that it has closed the acquisition of Integrated Benefit Consultants Ltd. (“IBC”) (the “Transaction”). Founded in 1997 and headquartered in Red Deer, AB, IBC specializes in providing group benefits consulting services for companies throughout the province of Alberta. Combined with People Corporation’s existing operations in Edmonton, Calgary, and Lethbridge, the addition of IBC increases the Company’s presence in Western Canada. Terms of the Transaction have not been disclosed.

IBC offers group benefits consulting services to approximately 350 clients directly through its Red Deer-based team of 9 employees.  IBC’s principals, Kent Seib, Bobby Froese, and Scott Hanrahan, will continue to run the operations as part of People Corporation, and IBC’s talented team of consultants and account managers will continue to provide industry-leading service to clients across the province of Alberta.

“The addition of IBC to the People Corporation family is strategically important to our growth in Alberta as it allows us to establish a continuous market presence across the critical Edmonton-to-Calgary business corridor, while providing a gateway into smaller urban centres and rural communities in the surrounding area,” commented Mr. Laurie Goldberg, Executive Chairman and Chief Executive Officer of People Corporation. Mr. Goldberg continued, “IBC’s excellent reputation, strong client focus, and deep expertise naturally complements our existing business and enhances our operations in the region. We are excited to welcome Kent, Bobby, Scott, and the entire IBC team to the People Corporation family.”

“When we considered the next chapter for our business, it was important to us that we partnered with a firm that shared the same solution-oriented approach and client-service philosophy that has guided our business over the past two decades,” commented Kent Seib, IBC’s Managing Partner. Mr. Seib continued, “People Corporation’s continued investment in technology and broad suite of products and services provides us an opportunity to enhance the value we provide our clients.  We are excited to be joining the People Corporation family.”