GENIVAR Income Fund Acquires Henderson Paddon & Associates, an Ontario-based Civil and Environmental Engineering Firm



    MONTREAL, Aug. 18 /CNW Telbec/ - The GENIVAR Income Fund ("GENIVAR") is
pleased to announce the acquisition of Henderson Paddon & Associates Limited
("Henderson Paddon"), an Ontario-based civil engineering and environmental
consulting firm. GENIVAR now has more than 600 employees in Ontario.
    "I am very pleased to welcome Henderson Paddon to the GENIVAR team," said
Pierre Shoiry, GENIVAR's President and CEO. "This acquisition allows us to
consolidate our municipal infrastructure, transportation and building
engineering expertise. Environmentally sustainable engineering solutions are a
key focus for GENIVAR, and Henderson Paddon's dedication to providing
sustainable solutions is consistent with our priorities," added Mr. Shoiry.
"With this acquisition, GENIVAR has significantly reinforced its national
base, adding 70 employees in four new Ontario offices, including Owen Sound,
Hanover, Grimsby and Clarksburg. Henderson Paddon has established a solid
network by forging long-term client relationships, and that ties in well with
GENIVAR's business model," he concluded.
    "The acquisition of Henderson Paddon represents a step further in
GENIVAR's development. With Henderson Paddon on board, GENIVAR now ranks as
one of the leading companies in Ontario's municipal infrastructure,
transportation and building engineering sectors, all of which will be strong
markets in the years to come. Indeed, we intend to keep expanding our
multidisciplinary teams in all of our market segments," said Anita Smith,
GENIVAR's Executive Vice-President for Western Ontario. "In addition to
expanding our geographic coverage of the province and our client base,
Henderson Paddon brings us additional expertise in the areas of sustainability
planning, municipal infrastructure design, environmental and waste management,
structural engineering, hydrogeology and construction contract
administration", she added.
    "GENIVAR is a great strategic fit because its business model is focused
on regional development. It also takes a service-oriented team approach while
fostering an entrepreneurial culture," said Jeff Graham, Henderson Paddon's
President. "GENIVAR's comprehensive range of expertise across its national
network will be a tremendous asset to our clients," he added. "Joining a
recognized multidisciplinary company such as GENIVAR not only increases our
financial capabilities, it makes us more versatile. In the long run, that can
only benefit our clients. In addition, our employees will enjoy exciting new
career opportunities within GENIVAR's national and international network."

    About Henderson Paddon

    Founded in 1972, Henderson Paddon has 70 full time employees at offices
in Owen Sound, Hanover, Grimsby and Clarksburg, as well as up to 60 additional
people working on contract administration assignments for the Ontario Ministry
of Transportation. It also has an extensive list of public and private-sector
clients, including numerous Ontario municipalities, various provincial
Ministries, First Nation Communities and private clients including Waste
Management of Canada, leading land developers and commercial construction
clients.

    About GENIVAR

    As one of Canada's leading engineering services companies, GENIVAR
provides private and public-sector clients with a comprehensive range of
consulting services throughout the project cycle, from planning and design to
construction and maintenance. The company's clients operate in a wide variety
of market segments, including the building, industrial, power, municipal
infrastructure, transportation and environmental sectors. GENIVAR is one of
Canada's largest engineering firms, with more than 3,300 managers,
professionals, technicians, technologists and support staff in more than 75
offices across the country and abroad (www.genivar.com).




For further information:

For further information: Pierre Shoiry, President and Chief Executive
Officer, GENIVAR Income Fund, (514) 340-0046, ext. 5104; Marlène Casciaro,
Director of Communications, GENIVAR Income Fund, (514) 340-0046, ext. 5184;
Anita Smith, P.Eng., Executive Vice President, Western Ontario, GENIVAR Income
Fund, (905) 475-7270; Jeff Graham, P.Eng., President, Henderson Paddon &
Associates Limited, (519) 376-7612

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