Business
GENIVAR Income Fund acquires Ontario transportation firm Transenco Ltd.
MONTREAL, Jan. 15 /CNW Telbec/ - The GENIVAR Income Fund (GENIVAR) is pleased to announce the acq...
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[{"type":"text","content":"\n\n\n\nMONTREAL, Jan. 15 /CNW Telbec/ - The GENIVAR Income Fund (GENIVAR) is\npleased to announce the acquisition of Transenco Limited, (Transenco), an\nOntario-based firm specialising in transportation planning and design\nengineering services. GENIVAR has 2,400 employees in Canada and abroad,\nincluding 460 people in Ontario.\n\n\n"GENIVAR's acquisition of Transenco further strengthens our\ntransportation expertise. We offer a full range of transportation services,\nranging from planning and design of infrastructure projects involving roads,\nhighways, bridges and public transit systems," said Pierre Shoiry, President\nand CEO of GENIVAR. "Canada's transportation infrastructure needs are\nconsiderable and governments are massively investing in transportation\nprojects," he added. "This includes repairing, expanding and upgrading roads,\nhighways, bridges as well as public transit systems. Since we provide a full\nrange of transportation services, this will mean many opportunities for\nGENIVAR in the coming years," concluded Mr. Shoiry.\n\n\n"GENIVAR is a great strategic fit with our business and its comprehensive\nrange of services and expertise will be tremendous assets", said\nGordon Krieger, P.Eng., President of Transenco. By joining forces, we will be\nable to undertake projects of greater scope and complexity. This will also\nallow us to attract additional personnel to GENIVAR's Transportation Group.\n"The key factors behind our decision to join forces were GENIVAR's\nentrepreneurial business model and its emphasis on flexibility and strong\nclient service. Our human resources are well acquainted with each other as a\nresult of many years of collaborative projects, including on a number of\nmandates for the Ontario Ministry of Transportation," commented Mr. Krieger.\n"The opportunities for developing our transportation team and our clientele\nwill be tremendous," he added.\n\n\nAbout Transenco\n\n\nTransenco was founded in 1994 and currently has 20 employees in its\noffices in North York, Bancroft and Ottawa. Key clients include the Ontario\nMinistry of Transportation, developers, and several cities and municipalities,\nincluding the Region of Peel. Recent and current projects include the\nrehabilitation designs of Highway 15 between Seeley's Bay and Crosby,\nHi...