MONTREAL, June 2 /CNW Telbec/ - The GENIVAR Income Fund ("GENIVAR"), a leading Canadian engineering firm, is pleased to announce the acquisition of Terrain Group Inc. ("Terrain Group"), an Atlantic Canada-based engineering, planning, and surveying firm with a staff of over 150 employees based in offices in Nova Scotia and New Brunswick, as well as Alberta. Terrain Group specializes in municipal engineering, planning, land surveying, transportation and environmental services.
"This is an exciting period for GENIVAR and I would like to warmly welcome Terrain Group's staff into our team. This strategic acquisition brings additional scale to GENIVAR's operations. Indeed, our firm now has a national presence extending from Nova Scotia to British Columbia," said Pierre Shoiry, GENIVAR's President and CEO. "We have established an important foothold in Atlantic Canada thanks to Terrain Group's strong local presence in Dartmouth, Nova Scotia and Moncton, Fredericton, Saint John and Sussex, New Brunswick. The firm also has an office in Edmonton, Alberta. We intend to build on our base in Atlantic Canada by attracting new partners and expanding our services in all of our market segments. Terrain Group will also enhance GENIVAR's expertise and client base. GENIVAR remains committed to the land surveying and planning services that Terrain Group offers, in addition to the company's engineering capabilities. We foresee additional growth opportunities by virtue of the fact that the municipal infrastructure, transportation and environmental sectors will be strong in the years to come," added Mr. Shoiry.
"We are very pleased to join forces with GENIVAR in a move that gives us new momentum," said Stephen Wallace, Terrain Group's President. "This is a great transaction as it provides our employees with additional growth opportunities as a result of being part of a national player. In addition, our clients will reap the benefits of a full range of engineering services and highly skilled professionals. This will help us meet our clients' growing needs and allow us to carry out larger and more complex projects," he added. "The number of potential acquisitions in Atlantic Canada remains high. In my capacity as GENIVAR's Vice-President for Atlantic Canada, we will assess additional consolidation opportunities aimed at expanding our regional platform and enhancing our expertise in all disciplines. GENIVAR and Terrain Group are a great cultural fit and share the same core values, including a strong entrepreneurial culture and regional focus. The future is full of exciting opportunities for our team and we look forward to working with our new colleagues as we develop new business opportunities for national-level clients," he concluded.
About Terrain Group Inc.
Terrain Group is founded on over 40 years of experience in delivering practical and effective solutions to clients. With the recent acquisitions of Atlantic Road and Traffic Management (ARTM) of Halifax and Trainor Surveys (1974) Ltd. of Fredericton, the company now has over 150 employees based in six offices (Dartmouth, Nova Scotia; Moncton, Fredericton, Saint John and Sussex, New Brunswick; and Edmonton, Alberta). The firm provides services in the areas of civil and municipal engineering, surveying, land use planning, transportation, and environmental engineering, undertaking over 1,000 projects annually throughout the Atlantic region and Alberta. Terrain Group's client base includes federal, provincial and municipal governments, in addition to commercial and residential land developers and a range of industries, including natural gas. www.terraingroup.com
GENIVAR is a leading Canadian engineering services firm providing private and public-sector clients with a full range of professional consulting services through all project phases, including planning, design, construction and maintenance. Ranging in size, its clients operate in various market segments, including the buildings, industrial, power, municipal infrastructure, transportation and environmental sectors. GENIVAR is one of the largest engineering services firms in Canada in terms of number of employees, with more than 4,400 managers, professionals, technicians and technologists and support staff in over 85 locations across the country and abroad. www.genivar.com
SOURCE GENIVAR Inc.
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; Stephen L. Wallace, P.Eng., NSLS, President, Terrain Group Inc., (902) 835-9955