Press Releases

  • Wednesday, July 11, 2007
    GENIVAR Income Fund acquires Ontario transportation firm NCE Ltd.

    MONTREAL, July 11 - The GENIVAR Income Fund (GENIVAR) is pleased to announce the acquisition of National Capital Engineering Limited, ("NCE Ltd."), an Ontario-based firm specialising in transportation planning and design engineering services. GENIVAR has over 2,000 employees in Canada and abroad, with more than 400 in Ontario.

    "GENIVAR's acquisition of NCE Ltd. becomes our platform to expand into the transportation market in Ontario. This firm is known for the excellence of its services and has a solid client base. We are building on these assets to pursue our development in transportation, through both organic growth and acquisitions," said Pierre Shoiry, President and CEO of GENIVAR. "GENIVAR is recognized as a strategic player in the transportation sector, from planning to design and project completion. NCE Ltd. will reinforce our leadership in the transportation sector" added Mr. Shoiry." Canada has major transportation infrastructure needs, whether in transportation planning, traffic management, roads, bridges, freeways, or mass transit. We intend to take part in many coming projects," he concluded.

    NCE Ltd. was founded in 2000 and currently has 35 employees at its offices in Ottawa, Kingston and Toronto. With a primary focus on serving provincial, federal and municipal clients in Ontario, NCE Ltd. serves major clients which include: Ontario Ministry of Transportation, Public Works and Government Services Canada, the National Capital Commission, and numerous cities and municipalities, including the City of Ottawa, the Regional Municipality of Ottawa-Carleton, the City of Cornwall and the City of Kingston.

    While the transportation sector specialists will be joining GENIVAR, NCE's value engineering group will operate independently under new ownership as NCE Engineers Inc. (NCEVE). David Wilson, P. Eng., CVS, who becomes President of NCEVE has a well established reputation in value engineering across the continent. NCEVE will focus on its core value engineering/management services, and continue to offer group facilitation and strategic planning expertise to its clients.

    "We are very happy that NCE is joining the GENIVAR team. NCE's expertise will help position GENIVAR in the many transportation projects across Ontario. The acquisition of NCE is strategic in the National Capital Region where GENIVAR now has a multidisciplinary team of some 160 employees," said Marc Rivard, P. Eng, Vice President for Eastern Ontario. We plan to enlarge our team in order to participate in numerous transportation projects in our province" added Mr. Rivard.

    "For NCE, joining GENIVAR gives us new momentum as it takes us to the next level of our development", commented Steven Taylor, P.Eng., who becomes GENIVAR's Vice President of Transportation for Ontario. It enables us to work on more significant and complex projects. This will also allow us to attract other firms and additional personnel to GENIVAR's Transportation Group. GENIVAR's entrepreneurial culture, its decentralized business model which emphasizes a local approach, the magnitude and dynamism of the firm, and access to its Canadian network built a business case for the merger," explained Mr. Taylor. "Working together, we foresee tremendous opportunities for developing our transportation team and our clientele," he added.

    About GENIVAR

    GENIVAR is a leading Canadian Engineering Services firm providing private and public sector clients with a comprehensive range of professional consulting services through all execution phases of a project including planning, design, construction and maintenance. Clients fall into various market segments such as building, industrial and power, urban infrastructure, transportation and environment. GENIVAR is one of the largest Engineering Services firm in Canada in terms of number of employees with more than 2,000 managers, professionals, technicians and technologists and support staff in some 40 offices in Canada and internationally. www.genivar.com

     

    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;

    Steven Taylor, P. Eng., M.Eng,
    President,
    NCE Ltd.,
     (613) 228-8654