LAVAL, QC, Sept. 29, 2014 /CNW Telbec/ - TCI Group has announced that it has signed an agreement in principal to acquire the main assets of the Hexagone Group, including the company's municipal works and major projects divisions, as well as its subsidiaries Houle-H2O and Géodex. This acquisition will significantly bolster TNT2 Inc., the TCI subsidiary responsible for civil engineering, roads and buildings, which will now on operate as TNT Group.
"This transaction is an opportunity for our company to broaden its service offering while considerably increasing its client base," said Stéphane Gauthier, President and CEO of TCI Group. "Furthermore, this transaction ensures that a widely-recognized expertise in civil works - which complements our main activities, the construction, management and maintenance of network infrastructures - will still be controlled in Quebec."
The closing of this transaction, which is subject to standard regulatory approvals, is expected in October. Because the companies in question are privately-owned, the value of the acquisition has not been divulged.
A Second Acquisition
TCI Group has also announced that, through a transaction that is separate from that involving Hexagone Group, it has purchased the core asset of Simard-Beaudry, a quarry located on the Rang St-Elzéar in Laval and three asphalt production plants. "This acquisition ensures that the control of one of the few major quarries under Quebec ownership, a strategic construction industry asset, remains in the province," added Mr. Gauthier. The closing of this transaction is expected before the end of the year. Its value has not been made public.
About TCI Group
Founded in 1978, TCI Group is owned by its founder, Mr. Claude Gauthier, and his family. The head office of the company is located in Laval, Quebec. Through its various business units, including Transelec Common, TCI Group is active in all of Quebec's regions, employing approximately 2,300 people.
SOURCE: TCI Group
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