Press Releases

  • Friday, February 23, 2007
    GENIVAR Income Fund completes the acquisition of GLD Experts-Conseils Inc. and establishes a presence in the Beauce region

    QUEBEC CITY, Feb. 23 - The GENIVAR Income Fund ("GENIVAR") is pleased to announce that it has acquired GLD Experts-Conseils Inc. ("GLD"), an engineering consulting firm with 50 employees and offices in Saint Georges and Sainte Marie (Beauce Region), Levis and Lake Megantic (Eastern Townships). Founded in the late 1980s, GLD is active in the urban infrastructure, transportation, building and environmental sectors.

    "We are very excited about this new acquisition," said Pierre Shoiry, GENIVAR's President and Chief Executive Officer. "We are actively implementing our business strategy and pursuing growth nationwide. GENIVAR now has approximately 1,800 employees in Canada and abroad."

    "GLD met all of the criteria we look for when evaluating potential acquisitions. The firm has deep roots in the region and strong community ties. It also shares our values and our business culture," said Eric Tremblay, GENIVAR's Vice-President for Eastern Quebec. "This acquisition will allow us to expand our network and serve a larger clientele. It will also consolidate our building expertise in the greater Quebec City area."

    Multidisciplinary expertise

    According to GLD President Martin Lacombe, "The key factors behind our decision to join forces were GENIVAR's entrepreneurial business model and its emphasis on flexibility and strong client service. Working together, we will be able to pursue additional development in the region while expanding our multidisciplinary expertise and positioning ourselves for larger projects thanks to the wide range of skills available within the company. We will also have access to increased financial resources." Mr. Lacombe added: "In addition to the municipal engineering, building and environmental services we currently offer, we will be able to provide a broader range of expertise, particularly in the hydroelectric, wind power and industrial sectors. Moreover, our employees will have new career and professional development opportunities available to them."

    Solid partners

    As part of this transaction, Mr. Lacombe and 10 other partners will become members of the group of shareholders consisting of more than 200 managers with a 41.8% ownership interest in the GENIVAR Income Fund. Mr. Lacombe will be in charge of the Saint Georges and Sainte Marie operations, while Mario Blais will oversee the Lake Megantic office. GENIVAR is laying the groundwork for a new generation of leaders who will be provided with a wide array of professional development opportunities. In keeping with GENIVAR's commitment to local communities, they will also be playing an active role in project execution and client support.

    GLD project overview

    Current GLD projects include the rehabilitation of Highway 173 in Beauceville, Saint Georges, Saint Come and Saint Theophile. In the building sector, GLD is completing construction of Laval University's Vandry Pavilion, the Nouvelle-Beauce residential and long-term care centre and the Gabriel Rousseau Professional Training Centre in Levis, in addition to the Chaudiere Integrated Centre for Industrial Mechanics (CIMIC) expansion project in Saint Georges. The potable water supply project and the upgrade of the network, reservoirs and treatment facilities of drinking water that supply the City of St. Georges and the municipality of Sainte-Marie are also among the firm's projects.

    GENIVAR

    GENIVAR is a leading Canadian engineering consulting company providing public and private sector clients with a complete line of professional services during all project phases, including planning, design, construction and maintenance. Its clients, both large and small, are active in a variety of market segments, including the building, industrial, power, urban infrastructure, transportation and environmental sectors. GENIVAR is one of the country's largest engineering consulting companies in terms of personnel, with approximately 1,800 managers, professionals, technicians, technologists and support staff in more than 40 offices in Canada and abroad (www.genivar.com).

    Marlene Casciaro,
    Director of Communications,
    GENIVAR Income Fund,
    (514) 893-5953;

    Eric Tremblay,
    Vice-President,
    Eastern Quebec,
    GENIVAR Income Fund,
    (418) 623-2254;

    Martin Lacombe,
    President,
    GLD Experts-Conseils Inc.,
    (418) 228-8041