K-Bro Linen Income Fund (the "Fund") completed its initial public offering of 4,343,862 Units on February 3, 2005 at an issue price of $10.00 per Unit. On March 31, 2006 an additional 1,080,000 Units were issued at a price of $13.90. On February 27, 2008 an additional 1,362,000 Units were issued at a price of $12.85 and on March 28, 2008 the underwriter’s exercised their over-allotment option and an additional 146,700 Units were issued at a price of $12.85. Total Units currently outstanding are 6,932,562.
K-Bro Linen Systems Inc., the Fund’s 100% owned operating subsidiary
("K-Bro"), is the largest owner and operator of laundry and linen processing facilities in Canada. K-Bro provides a comprehensive range of general linen and operating room linen processing, management and distribution services to large healthcare institutions, hotels and other commercial accounts. Of its total revenue, approximately 75% is from long-term healthcare contracts with the remaining 25% from hospitality and commercial contracts. K-Bro currently has processing facilities in six Canadian cities: Toronto, Edmonton, Calgary, Vancouver, Victoria and Quebec City. We employ in excess of 1,000 people.
K-Bro maintains a three-part strategic focus:
1. Secure and maintain long-term contracts with large healthcare and hospitality customers.
2. Extend core services to new markets.
3. Introduce related services.
Management believes that K-Bro possesses the following strengths and competitive advantages that make it very Income Trust worthy:
a. Long-term contracts.
b. Strong insitutional customer base.
c. Modest maintenance capital expenditure requirements.
d. National brand-name recognition and strong reputation.
e. Experienced management team and effective organizational structure.
f. Scalable business model.
Contact Information
K-BRO Linen Income Fund
Suite 103
15023 - 123 Avenue
Edmonton, Alberta
Canada T5V 1J7
(780) 453-5218
Investor Relations Contacts
Linda McCurdy, President & CEO
Doug Thomson, FCA, Vice-President & Chief Financial Officer
