Corix

Corix

May 05, 2008 06:00 ET

Corix Acquires the Barber Group of Companies

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 5, 2008) - Corix announced today it has acquired the Barber Group of Companies (Barber Engineering and Controls Ltd., Barber Valve and Controls, BG Controls, and Besco Industrial Products).

"This acquisition allows us to fulfill a key part of our corporate strategy," said Steve Little, Vice President and COO, Corix. "It has been part of our plan to establish a base in the oil, gas and industrial products sector and the Barber Group of Companies ("Barber") now gives us that platform."

"This is an exciting milestone for our company and we look forward to scaling our growth as part of Corix," said Randy Helgren, President of Barber Engineering. "As a leader in the water products, utilities and systems sectors, Corix offers a strong growth platform for Barber's business. Our combined teams will create exciting growth opportunities for our suppliers, our customers and our employees."

Barber is a Western Canadian based company that provides measurement and control equipment to the oil, gas and industrial products sector. It represents major instrumentation and control product manufacturers and also has developed the internal capacity to fabricate specialized products. The company has two locations in Alberta, two in Saskatchewan and one in British Columbia with approximately 80 employees.

Corix has been extremely successful in building a world class water products distribution company and expanding into the growing Western Canadian oil patch is a logical step. By purchasing Barber with its 70 years of Alberta business history and long term vendor relationships, it allows Corix to take a large first step into the oilfield products distribution business.

The Corix Group of Companies - based in Vancouver, B.C. - specializes in providing infrastructure solutions in the water, wastewater and energy sectors. It has over 1200 employees in 50 locations across North America. Corix is a private company whose primary owners are the BC Investment Management Corporation and CAI Capital Management Inc., two large and stable members of the Canadian investment community who specialize in public pension funds.

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