ViascanQData to merge with US company

by MM&D Online Staff

HENDERSON, Nevada—Quest Solution, Inc, plans to merge with ViascanQData (Viascan) a provider of data collection and label-ribbon converter
services and technology.

ViascanQData currently serves in excess of 4,000 enterprise customers, mainly in Canada. Unaudited financials indicate annual revenues of about CDN$28 million (approximately $24 million USD), and ViascanQData is currently on track to deliver unaudited double digit EBITDA for 2015. The Company estimates the proforma revenue for the combined entities for 2014 would have been approximately US$83 – $85 million.

The combination is expected to provide a significant discount across Quest’s robust label business through the addition of ViaScanQData’s purchasing volume. While Quest’s previous combination with BCS Solutions was 30% labels and 70% hardware, ViascanQData is approximately 55% labels and 45% hardware.

ViascanQData leases a 44,000 square foot facility in Ontario and a 21,000 square foot facility in Montreal and is one of the largest suppliers of labels and ribbons along with being one of the main suppliers of data collection products and services in all of Canada.

Once the transaction is completed, Quest Solution will have a sales force in excess of 45 experienced professionals servicing three countries and strengthened operations management team. All Quest employees will look to provide the Company’s growing suite of services to all customers of Quest, BCS and ViascanQData.

“ViascanQData is an ideal and complementary addition to Quest Solution,” said Tom Miller, CEO of Quest Solution, Inc. “ViascanQData is a proven leader throughout Canada and will blend synergistically into our model. We expect to enjoy immediate buying power benefits (from their label expertise) and on critical supplies, an influx of managerial and sales talent, and perhaps most importantly, access to customers to whom we expect to offer additional services and

“The fit with Quest is something we are extremely excited about,” said Gilles Gaudreault, CEO of ViascanQData. “ViascanQdata, especially with its new manufacturing facility in Ajax, Ontario was ready to aggressively enter the American market which was part of the strategic growth plan from management. Merging with Quest is a giant leap in that direction. Quest market coverage, synergies, sales force and management philosophy was at the heart of our decision. We know that together our growth path is just at its beginning.”

Viascan shareholders will receive approximately 5.2 mm restricted shares of Quest Solution’s common stock as consideration for the transaction.

Founded in 1995, ViascanQDdata specializes in supply chain business process technologies and automated data collection systems. ViascanQData manufactures a full range of labels and ribbons. They also distribute printers, barcode readers, traceability RFID tags and readers, mobile computers, and wireless networks. Headquartered in
Montreal, Quebec has regional sales and service offices in Ajax, Montreal, Markham, Winnipeg and Vancouver.