IBI Group Announces Acquisition of Florida-Based Architectural Design Firm, RLC Architects

TORONTO, April 04, 2022 (GLOBE NEWSWIRE) -- Global design and technology firm, IBI Group Inc. (TSX: IBG) (“IBI” or the “Company”), announced today that it has completed the purchase of Florida-based architectural firm, (“RLC”) (the “Acquisition”). RLC’s diverse team of 25 professional staff will bring significant experience across the industrial, residential, commercial, education and interior architecture sectors.

RLC complements IBI’s existing industrial engineering and architectural business, expands its U.S. market presence and contributes to the firm’s long-term growth strategy. The Acquisition demonstrates IBI’s commitment to prudent and accretive growth while supporting an ongoing commitment to sustainability, given RLC’s leadership in “green design” across South Florida.

“Integrating the RLC team’s expertise and focus on industrial distribution centres — a key element of efficient supply chains — adds a unique skillset to IBI, which enhances our industrial engineering and architectural practice and expands our U.S. reach. The Acquisition supports our growth strategy and contributes to revenue, backlog and ongoing margin improvement,” said IBI Group CEO, . “The team at IBI is very pleased to welcome RLC and look forward to a successful integration that will enable us to efficiently grow to other regions.”

Founded in 1990, RLC specializes in planning and designing award-winning buildings and communities in South Florida. Their work has received numerous awards from industry associations, including the American Institute of Architects 2019 AIA Palm Beach Merit Award in Design Excellence for their design of the Boca Ice and Fine Arts Center and the Briny mixed-use community. Seven of RLC’s recently completed projects have attained LEED certification and over fifty percent of its professional staff have their LEED accreditations. RLC’s focus on sustainable design and client-focused solutions will combine with IBI’s focus on improving urban livability and taking action on climate change.

“The RLC team is very excited to become part of IBI Group,” said RLC President, Bruce W. Retzsch. “RLC’s 32-year legacy of design excellence and client service is continuously expanding. Combining our skill sets will enable the firm to realize synergies across a broad range of services, while IBI’s technology-driven design approach will enable us to deliver higher levels of service for our clients. We see many opportunities to leverage our respective strengths, expand our service offerings and continue driving long-term growth.”

“The addition of RLC’s expertise to IBI’s existing architectural and engineering services is an exciting complement to IBI’s current work and provides a great opportunity to deepen and broaden our relationships with the South Florida and Southeastern U.S. client base,” said IBI Group Director, USA, .

The Acquisition builds upon IBI Group’s strategic focus on growing its urban environment and infrastructure design presence in the U.S.

For more information and/or to connect with IBI Group, please contact David Bosworth at or 1-416-846-3540.

Caution Regarding Forward-Looking Information

Certain statements in this news 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 Company and its subsidiary entities, including IBI Group Partnership or the industry in which they operate, to be materially different from any future results, performance or achievements expressed or implied by such forward- looking statements. When used in this news release, such statements use words such as “may”, “will”, “expect”, “believe”, “plan” and other similar terminology. These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this news release. These forward-looking statements involve a number of risks and uncertainties.

These risk factors are discussed in detail under the heading “Risk Factors” in the Company’s Annual Information Form for the year ended December 31, 2021. New risk factors may arise from time to time and it is not possible for management of the Company to predict all of those risk factors or the extent to which any factor or combination of factors may cause actual results, performance or achievements of the Company to be materially different from those contained in forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as at December 31, 2021. The Company updates these assumptions at each reporting period and adjusts its forward-looking information as necessary.

About IBI Group

(TSX:IBG) is a technology-driven design firm with global architecture, engineering, planning, and technology expertise spanning over 60 offices and 3,400 professionals around the world. For nearly 50 years, its dedicated professionals have helped clients create livable, sustainable, and advanced urban environments. IBI Group believes that cities thrive when designed with intelligent systems, sustainable buildings, efficient infrastructure, and a human touch. Follow IBI Group on and .

Media Contact:

David Bosworth

BullsEye Communications Inc.



1-416-846-3540

Investor Contact:

, CFO

IBI Group Inc.

55 St. Clair Avenue West

Toronto, ON M4V 2Y7

1-416-596-1930