Plenary Group and Serco Reach Financial Close on Driver Examination Services
TORONTO, June 28, 2013 /CNW/ - Plenary Group and Serco Inc., working as a
consortium, announced today that they have been awarded the 10 year contract
to provide Driver Examination Services for the Ontario Ministry of
Transportation (MTO). The contract will generate an estimated $800 million in
shared revenues over the contract term.
The successful bidders will provide application processing and the delivery of
vision, knowledge and road testing across all license categories. Serco will
oversee approximately 575,000 knowledge tests and 675,000 road tests annually
at 95 testing centers across Ontario. Under the new contract, Serco's role
will be expanded to include upgrading and enhancing information technology
solutions to improve processing, scheduling and the delivery of services to
"Serco proudly embraces the mission of the Ministry of Transportation to
deliver high quality testing services throughout the province," said Ed Casey,
Serco's Chairman and Chief Executive Officer. "Being awarded this re-compete
contract will allow Serco to further our support for our client and continue
to enhance road user safety throughout Ontario."
Plenary Group is the developer, equity investor and debt arranger for the
project. In this capacity, Plenary Group has made significant financial
commitments to guarantee the consortium's service delivery performance for the
"We are thrilled to be forging a new relationship with MTO and Serco," said
Brian Budden, Senior Vice-President of Plenary Group. "We look forward to
building on our partnership over the next ten years and to ensuring excellence
in service delivery and improved technology solutions to benefit Ontario's
drivers and travelers."
About Serco Inc.: Serco Inc. is a wholly-owned subsidiary of Serco Group plc,
a $7.5 billion international business that helps transform government and
public services around the world. Serco is a FTSE 100 international service
company, which combines commercial know-how with a deep service ethos. Around
the world, we improve essential services by managing people, processes,
technology and assets more effectively. We advise policy makers, design
innovative solutions, integrate systems and - most of all - deliver to the
public. Our people offer operational, management and consulting expertise in
the aviation, business process outsourcing, defense, education, environmental
services, facilities management, health, home affairs, information and
communications technology, knowledge services, local government, science and
nuclear, transport, welfare to work and the commercial sectors. More
information can be found www.serco-na.com.
About Plenary Group: Plenary Group is one of North America's leading
specialized developers of long-term Public-Private Partnership (P3) and
Alternative Financing and Procurement (AFP) projects, with over $6 billion in
project capitalization, across Canada. For more information about Plenary
Group, please visit the company's website at www.plenarygroup.com.
Alan Hill, Serco Inc., 703-939-6500, email@example.com; Olivia MacAngus,
Plenary Group, 416-902-9695, Olivia.firstname.lastname@example.org
SOURCE: Serco Inc.
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CO: Serco Inc.
NI: FIN TRN ORDER
-0- Jun/28/2013 13:10 GMT
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