CALGARY, Alberta, Nov. 01, 2022 (GLOBE NEWSWIRE) — Scarlet Security & Risk Group (SSRG) further advances its goal of increasing capacity and reach for its clients and continuing to provide them with complex security solutions.
The company is excited to announce a restructuring of its ownership group and the addition of a major financing partner to further support these goals and expand its capabilities.
SSRG has seen significant growth, both organically and through acquisition, over the last five years, including its recent purchases of Lions Gate Risk Management Group and Arc Protection Corp. The expansion in its suite of services also brought a large group of subject matter experts to the SSRG executive and management teams.
Further building on these achievements, effective September 30, 2022, Stephen Reid of Trilogy Capital joined SSRG as an investor, shareholder, and board member. Stephen is a highly experienced investor and business growth expert who specializes in M&A and strategic partnerships with a specific focus on founder-run businesses. He is a welcome addition to the leadership team.
Mr. Reid commented, “Trilogy sees many opportunities and is focused on investing in ‘top tier’ management teams. SSRG is one of the best managed growth companies we have ever seen, and we recognize the potential of the team to become the national leader in high end security services.”
As part of this transaction, Patrick Doyle, founder, CEO, and majority shareholder of SSRG, will increase his holdings further illustrating his commitment.
Mr. Doyle commented, “Our capacity to deliver expertise to our clients and bring thoughtful, integrated solutions for complex use cases has significantly increased in recent years. We firmly believe these changes further set us, and our clients, up for success and will allow for tremendous service delivery and expansion in the coming years.”
Mr. Doyle went on to say, “The Canadian security landscape is dominated by several large, multi-national providers and many small to medium founder-led outfits. We aim to be a major consolidator of the quality firms that bring an intimate understanding of their operating environments but may lack the scale to compete on much larger enterprise and national contracts.”
In unison with Trilogy Capital and Mr. Doyle, Canadian Western Bank/CWB Maxium Financial has become a strategic capital provider for SSRG to further its ambitious growth initiatives.
With its added financial backing, SSRG seeks to become the Canadian firm of choice for discerning owners seeking scale, succession, growth and the support and capacity of joining a larger team with a local approach.
About Scarlet Security & Risk Group:
SSRG is one of Canada’s leading security solutions companies. We provide a variety of client-centric security, technology and risk management solutions to our partners and clients. Our diverse, highly qualified team members and relentless commitment to excellence provide superior results for our clients.
About Lions Gate Risk Management Group
Lions Gate, a wholly owned subsidiary of SSRG, offers a wide range of services in risk management, executive protection, intelligence analysis, investigations, financial and crypto currency investigations and more. Its leadership team members have extensive experience in all fields and deliver services of the highest standard.
For additional information:
|Patrick Doyle||Stephen Reid|
|Cell: 1-867-446-6126||Cell: 1-403-540-5411|
Tense diplomatic relations may not impact trade, investment ties between India, Canada: Experts
NEW DELHI: The tense diplomatic relations between India and Canada are unlikely to impact trade and investments between the two countries as economic ties are driven by commercial considerations, according to experts. Both India and Canada trade in complementary products and do not compete on similar products.
“Hence, the trade relationship will continue to grow and not be affected by day-to-day events,” Global Trade Research Initiative (GTRI) Co-Founder Ajay Srivastava said.
Certain political developments have led to a pause in negotiations for a free trade agreement between the two countries.
On September 10, Prime Minister Narendra Modi conveyed to his Canadian counterpart Justin Trudeau India’s strong concerns about the continuing anti-India activities of extremist elements in Canada that were promoting secessionism, inciting violence against its diplomats and threatening the Indian community there.
India on Tuesday announced the expulsion of a Canadian diplomat hours after Canada asked an Indian official to leave that country, citing a “potential” Indian link to the killing of a Khalistani separatist leader in June.
Srivastava said these recent events are unlikely to affect the deep-rooted people-to-people connections, trade, and economic ties between the two nations.
Bilateral trade between India and Canada has grown significantly in recent years, reaching USD 8.16 billion in 2022-23.
India’s exports (USD 4.1 billion) to Canada include pharmaceuticals, gems and jewellery, textiles, and machinery, while Canada’s exports to India (USD 4.06 billion) include pulses, timber, pulp and paper, and mining products.
On investments, he said that Canadian pension funds will continue investing in India on grounds of India’s large market and good return on money invested.
Canadian pension funds, by the end of 2022, had invested over USD 45 billion in India, making it the fourth-largest recipient of Canadian FDI in the world.
The top sectors for Canadian pension fund investment in India include infrastructure, renewable energy, technology, and financial services.
Mumbai-based exporter and Chairman of Technocraft Industries Sharad Kumar Saraf said the present frosty relations between India and Canada are certainly a cause for concern.
“However, the bilateral trade is entirely driven by commercial considerations. Political turmoil is of a temporary nature and should not be a reason to affect trade relations,” Saraf said.
He added that even with China, India has acrimonious relations but bilateral trade continues to remain healthy.
“In fact, bilateral trade is an effective tool to improve political relations. India must make special efforts to increase our bilateral trade with Canada,” Saraf said.
India and Canada have a strong education partnership. There are over 200 educational partnerships between Indian and Canadian institutions.
In addition, over 3,19,000 Indian students are enrolled in Canadian institutions, making them the largest international student cohort in Canada, according to GTRI.
According to the Canadian Bureau for International Education (CBIE), Indian students contributed USD 4.9 billion to the Canadian economy in 2021.
Indian students are the largest international student group in Canada, accounting for 20 per cent of all international students in 2021.
Benefits of educational partnerships are mutual and hence the current situation may have no impact on the relationship, Srivastava said.
Apple supplier Foxconn aims to double India jobs and investment
Apple supplier Foxconn aims to double its workforce and investment in India by next year, a company executive said on Sunday.
Taiwan-based Foxconn, the world’s largest contract manufacturer of electronics, has rapidly expanded its presence in India by investing in manufacturing facilities in the south of the country as the company seeks to move away from China.
V Lee, Foxconn’s representative in India, in a LinkedIn post to mark Indian Prime Minister Narendra Modi’s 73rd birthday, said the company was “aiming for another doubling of employment, FDI (foreign direct investment), and business size in India” by this time next year.
He did not give more details.
Foxconn already has an iPhone factory employing 40,000 people in the state of Tamil Nadu.
In August, the state of Karnataka said the firm will invest US$600 million for two projects to make casing components for iPhones and chip-making equipment.
The company’s Chairman Liu Young-way said in an earnings briefing last month that he sees a lot of potential in India, adding: “several billion dollars in investment is only a beginning”.
Taiwan election: Foxconn’s Terry Gou taps star-powered running mate
Last month, Foxconn’s billionaire founder Terry Gou said he would run for the Taiwanese presidency in next year’s election, as an independent candidate.
He said the ruling and independence-leaning Democratic Progressive Party (DPP) was unable to offer a bright future for the island and left Foxconn’s board following his decision to run.
The firm operates the world’s largest iPhone plant, in the city of Zhengzhou in Henan province.
Foxconn to double workforce, investment in India by ‘this time next year’
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