Montreal engineering firm Genivar Inc. (TSX:GNV) announced the acquisition of Smith Carter Architects and Engineers Inc. Based in Winnipeg with 190 employees, Smith Carter provides both design and engineering services.
Montreal engineering firm Genivar Inc. (TSX:GNV) announced Thursday the acquisition of Smith Carter Architects and Engineers Inc. and its U.S. affiliate, Smith Carter (USA) LLC.
Smith Carter, which has 190 employees, provides both design and engineering services. Its projects include the Canadian Museum for Human Rights and the Women's Hospital at the Winnipeg Health Sciences Centre in 2010. Its chief executive officer, Scott Stirton, will join Genivar’s National Leadership Committee.
Smith Carter was founded in 1947 by Winnipeg architects Ernest J. Smith and Dennis H. Carter. In addition to its Winnipeg head office, it has locations in Calgary, Ottawa, Atlanta and Washington, D.C.
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With 5,500 employees in 100 countries, Genivar provides planning, design, maintenance and construction services. Founded in 1959, Genivar was known in the past as Groupe-Conseil Solivar Inc., G.B.G.M. Ltd. and Les Consultants Dupuis Cote Inc.
In December, Genivar raised nearly $160 million in gross proceeds from a private equity placement, selling a combined total of 6.5 million shares to Canada Pension Plan Investment Board and the Caisse de depot et placement du Quebec. At the time, Genivar president and chief executive officer Pierre Shoiry said the share sale was intended to grow the Canadian business and international expansion plans.
The Smith Carter deal is the latest of several mergers and acquisitions.
Earlier this month, Genivar acquired GRB Engineering Ltd. of Calgary, which has 80 workers and provides engineering services and project management for the oil and gas industry.
In December, Genivar announced that AE Consultants Ltd. of St. John's, Newfoundland would join the Genivar family of companies. With 16 employees, AE Consultants provides prime consulting, architecture, structural, civil and municipal engineering.
In October, Geniver acquired Le Groupe Giroux , which has 85 workers and specializes in construction surveying, geomatics and bathymetry, which is the measurement of water depth.
Last summer Genivar acquired Dakins Engineering Group Ltd., based west of Toronto in Mississauga, Ontario. Dakins is a computer systems integrator that programs and resells components for Supervisory Control And Data Acquisition (SCADA) for water and wastewater systems.
In 2010, Genivar earned $30.839 million on revenues of $580.431 million. The company is scheduled to release its financial results for 2011 on March 26. In the quarter ending Oct. 1, Genivar reported net earnings of $14.152 million on revenues of $173.088 million.
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