GENIVAR Income Fund Acquires Jagger Hims Limited an Ontario-Based Firm Specialized in Earth and Environmental Sciences



    MONTREAL, May 20 /CNW Telbec/ - The GENIVAR Income Fund ("GENIVAR") is
pleased to announce the acquisition of Jagger Hims Limited ("Jagger Hims"), a
firm specializing in earth sciences and environmental engineering. Jagger Hims
has 90 employees in 7 offices in Ontario. GENIVAR's workforce in Ontario
numbers 700 employees.
    "We are very pleased that Jagger Hims has joined forces with the GENIVAR
team," said Pierre Shoiry, GENIVAR's President and CEO. "Jagger Hims
significantly enhances our environmental and earth sciences capabilities. The
firm provides services in waste management, water resource management,
industrial minerals and aggregate resources, waste water management,
geo-environmental engineering, environmental property assessments and
remediation, biosolids management and biology. Environmental services are a
strategic component of project development and execution. Thanks to our team
of multidisciplinary experts, we are better positioned to support our clients
and to move their projects forward in a context in which constantly changing
environmental standards and permit regulations have become an integral part of
the business process," added Mr. Shoiry. "This acquisition also expands our
Ontario platform thanks to Jagger Hims strong local presence, with 7 offices
in Ontario, including in Newmarket, St. Catharines, Windsor, Peterborough,
Collingwood, Brantford and London. Jagger Hims has established a solid network
by forging long-term client relationship, and that ties in well with GENIVAR's
business model," concluded Mr. Shoiry.
    "We are very pleased to join forces with GENIVAR, primarily since the
environmental sector plays a strategic role in all of the company's market
segments," said Jason Balsdon, President of Jagger Hims Limited. "Having been
involved in numerous Ontario's environmental studies and projects, we can now
expand our business opportunities and carry out larger and more complex
projects thanks to GENIVAR's scale of operations, diversified skills base and
financial resources. Another key factor in our decision was GENIVAR's
entrepreneurial business model, which focuses on flexibility and close client
relations. Becoming an integral part of GENIVAR has given us a new sense of
momentum."
    "Our teams share the same core values of service quality and
professionalism. This is a win-win situation for our employees as well as for
our clients," added Mr. Balsdon. "We will also be able to meet the growing
needs of our clients, while our employees will have access to new and exciting
career opportunities throughout GENIVAR's network."

    About Jagger Hims Limited

    Jagger Hims Limited was founded in 1987 and provides environmental
consulting services in engineering and earth sciences. The firm has 7 offices
in Ontario, including in Newmarket, St. Catharines, Windsor, Peterborough,
Collingwood, Brantford and London. The firm provides consulting services to
municipalities, provincial government and private sector clients.

    GENIVAR

    GENIVAR is a leading Canadian engineering services firm providing private
and public-sector clients with a comprehensive range of professional
consulting services throughout all project phases, including planning, design,
construction and maintenance. Ranging in size and scope, GENIVAR's clients
primarily operate in the building, industrial, power, municipal
infrastructure, transportation and environmental sectors. GENIVAR is one of
Canada's largest engineering services firms based on number of employees, with
more than 3,600 managers, professionals, technicians and technologists and
support staff in more than 70 locations in Canada and internationally.
www.genivar.com.




For further information:

For further information: Pierre Shoiry, President and CEO, GENIVAR
Income Fund, (514) 340-0046, ext. 5104; Marlene Casciaro, Director of
Communications, GENIVAR Income Fund, (514) 340-0046, ext. 5184; Jason Balsdon,
P.Eng., President, Jagger Hims Limited, (905) 853-3303

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