Altus Group Income Fund

Altus Group Income Fund

October 09, 2008 08:49 ET

Altus Group Announces Intent to Acquire Capital Planning Solutions Inc.

TORONTO, ONTARIO--(Marketwire - Oct. 9, 2008) - Altus Group Income Fund ("Altus") (TSX:AIF.UN) announced today that it has entered into a non-binding letter of intent to acquire the business assets of Capital Planning Solutions Inc. ("CPSI"). The acquisition is expected to be funded through a combination of cash, bank financing and equity. At this time, the transaction is subject to the satisfactory completion of due diligence and the execution of definitive agreements, and there can be no assurance the transaction will be completed.


"CPSI's sophisticated facility and infrastructure management methodology and software represents a significant competitive edge in the capital planning business solutions arena for Altus and makes this a highly strategic acquisition," said Michael Barker, Executive President, Cost Consulting, Altus Group. "CPSI will integrate with the expertise of our Cost Consulting business unit, expanding our scope of services in strategic facilities management consulting."

Since its inception in 1996, CPSI has been dedicated to developing capital planning systems for organizations looking for effective strategies to manage their capital spending in real estate and infrastructure assets portfolios. CPSI is the world leader in capital planning methodology implementation, process change and planning technology development to real estate and asset owners/managers who focus primarily in the MUSH (municipalities, universities, schools and hospitals) sectors. CPSI's advanced multi-dimensional and long-term approach provides complete life-cycle asset management and regulatory compliance. These features assist customers in more effectively planning, managing and ultimately investing capital which better allows them to optimize the whole life performance of new and existing capital assets through strategic prioritization and alignment with corporate objectives.

About Altus Group

Altus Group is the leading multidisciplinary provider of independent real estate consulting and professional advisory services worldwide. With a staff of over 1,300, Altus Group has 30 offices in 23 cities throughout Canada and 8 offices throughout the UK. We operate as: Altus Research, Valuation and Advisory; Altus Cost Consulting; Altus Realty Tax Consulting, Altus Geomatics; Altus InSite; Altus Geocom; Altus Edwin Hill; and Altus Andrews. Altus' clients include banks, financial institutions, governments, pension funds, asset and fund managers, developers and landlords and companies engaged in the oil and gas industry.

Forward - Looking Statements

Certain statements in this press release may constitute "forward-looking" statements, which involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Fund and its subsidiary entities, including Altus Group Limited Partnership, Altus Group Limited, Altus Geomatics Limited Partnership and Altus UK LLP, or the industry, to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. When used in this press release, such statements use words such as "may", "will", "expect", "believe", "plan" and other similar terminology. These statements are not guarantees of future performance and are subject to numerous risks and uncertainties, including those described in the Fund's publicly filed documents including the Annual Information Form, Form 51-102F2, dated March 31, 2008 (available on SEDAR at

Those risks and uncertainties include: general state of the economy; reliance on and retention of professionals; ability to maintain profitability and manage growth; competition in the industry; performance of obligations / maintenance of client satisfaction; fixed price and contingency engagements; revenue and cash flow volatility; protection of intellectual property; dependence on multi-residential market; dependence on oil & gas sector; possible acquisitions; interest rate risk; currency risk; credit risk; seasonality and weather; appraisal mandates; economic dependence; restrictions on potential growth; operating risks; risks of future legal proceedings; insurance limits; and legislative and regulatory changes. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this press release. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Fund cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and, except in accordance with applicable law, the Fund assumes no obligations to update or revise them to reflect new events or circumstances. Additionally, the Fund undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of the Fund, its financial or operating results, or its securities.

Contact Information