TORONTO, ONTARIO – (Marketwired – June 30, 2016) – Brookfield Global Integrated Solutions (Brookfield GIS), a leading global real estate facility management provider announced today that it is acquiring SNC-Lavalin Group Inc.’s (SNC-Lavalin) Canadian real estate facilities management (FM) business that manages multi million square feet and employs over 1,000 team members.
“For over 20 years, Brookfield GIS has been providing facilities management & facilities services to leading organizations in the telecom, financial and government sectors. The benefit of this acquisition means clients will have access to additional scale, knowledge and expertise with an organization that understands their businesses, ensuring an efficient, seamless transition,” said Gord Hicks, President and CEO, Americas, Brookfield GIS.
SNC-Lavalin is divesting its FM business to focus on its core businesses. SNC-Lavalin’s Canadian FM business is comprised of facility management, facility services, building operations and management, project management, realty management and advisory services.
“We are aligning our Operations & Maintenance business in Canada with SNC-Lavalin’s core sectors, by focusing on providing operations and maintenance services in transportation, social infrastructure, P3s, industrial, power, defence and logistics, and oil and gas,” said Ian L. Edwards, President, Infrastructure, SNC-Lavalin. “We are pleased to sell our Real Estate Facilities Management business in Canada to another solid Canadian company. Brookfield is the ideal owner to provide the investment, client care and long term planning to grow it.”
“This acquisition will allow both companies to move forward with a focus on their respective core businesses while continuing to drive value for clients,” said Hicks.
With this Canadian acquisition, Brookfield GIS continues to execute on its strategy to become a global leader in the real estate facilities management services industry.
The agreement is subject to customary regulatory and other approvals, and is expected to close by the end of this year.