Genivar Income Fund has acquired Magnate Engineering & Associates Inc. and Magnate Communications Corp. a telecommunications engineering firm with 70 employees based in Ontario and British Columbia.
MONTREAL
Genivar Income Fund has acquired Magnate Engineering & Associates Inc. and Magnate Communications Corp. a telecommunications engineering firm with 70 employees based in Ontario and British Columbia.
“I am very pleased to welcome Magnate within the Genivar family,” said Pierre Shoiry, Genivar’s president and CEO. “Magnate will significantly strengthen and complement our telecommunications services while boosting our sector team to more than 200 employees in Canada. This strategic acquisition positions us as a key national player providing a full range of services, from engineering, design, site acquisition, project management and installation to wireless, fibre optic and cable industry services,” he added.
“Joining forces with Genivar will foster our development. We will also be better able to expand our services through Genivar’s national and international operations network,” said Elizabeth Stanmore, president and Deborah Kingston, vice-president of Magnate.
Magnate has 70 employees in Brampton, Ont. and Surrey, B.C. It designed and managed major projects for utilities, transportation authorities, wireless and wireline providers, municipalities and electricity companies. Magnate’s clients include both carriers and vendors such as Rogers Wireless, Bell Mobility, TELUS Mobility, Greater Toronto Airports Authority, TeraGo Networks, Cogeco Date Services, Cogeco Cable and Shaw Communications.
DCN News Services
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