Friday, February 6, 2009

Consolidation in Canada?

Consider these two seemingly unrelated pieces of news from the Great White North:

1. GENIVAR Income Fund acquires two consulting firms: Envirotel 3000 Inc. in Sherbrooke and WSA Trenchless Consultants Inc. in Montreal. Envirotel specializes in environmental services while WSA specializes in municipal infrastructure. The firms have a combined total of 15 employees.

2. The Canadian government will spend $9.5 billion on road, bridge, public transit, water, and other infrastructure over the next two years. The funding is part of an overall $32 bbillion stimulus budget announced on January 27, according to ENR. More than 2,200 infrastructure projects could begin this spring if details are worked out, according to the mayor of Sherbrooke. The spending is part of an initiative to offset a trend of declining construction spending, the result of oil price declines in the Alberta oil sands region that have led to major project deferrals.

So, for those of you who thought a slowing economy and consolidation in the AEC industry was limited to the United States, think again.


1 comment:

Anonymous said...

That's certainly interesting. GENIVAR has been hyperactive of late; I'm very curious to see how it all unfolds.

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