IBI Group Announces Asset Acquisition of Cole Engineering Group Ltd.

Complementary civil engineering expertise expands geographic reach and client base, adds key capabilities in water management, and supports firm’s strategic direction

TORONTO, Dec. 01, 2020 (GLOBE NEWSWIRE) -- IBI Group Inc. (TSX: IBG) (“IBI” or the “Company”), a global design and technology firm, announced today that it has completed the purchase of the assets of southern Ontario-based Cole Engineering Group Ltd. (“Cole”), (the “Acquisition”). Founded in 2003, Cole provides a complementary fit for IBI as one of the largest independent civil engineering firms in Ontario, offering consulting and advisory services in the water, transportation, urban development and environmental sectors. Cole’s geographic reach and fulsome capabilities across the water sector include demand modelling and planning; design and construction management for water infrastructure facilities, pipelines and tunnels; as well as operations and maintenance.

“With its rich expertise in linear infrastructure and water management, this acquisition strengthens IBI’s capabilities and competitiveness across all areas of our business, allowing us to bring more services to bear on our major public-sector projects, and deepen our relationships with our private-sector developer clients. We have worked with Cole on a number of infrastructure projects, including the Eglinton Crosstown LRT, and have always appreciated the collaborative and productive relationship that the partnership brings. I am pleased to welcome Cole into the IBI family,” said Scott Stewart, IBI Group CEO.

While the two firms share some common clients in the public and private sectors, the Acquisition presents new growth opportunities across practice areas. Cole’s expertise in urban development (industrial, commercial and institutional) and land engineering complements IBI’s strong capabilities in urban planning, landscape architecture, and electrical and traffic systems, allowing IBI to offer additional site development services to its property developer clients. Cole’s established water master planning practice complements IBI’s current expertise in this sector, bringing additional background in water/wastewater demand modelling and planning — providing opportunities to enhance IBI’s BlueIQ water operations optimization solution — as well as water infrastructure and facilities design. Additionally, Cole’s training and accreditation program for water facilities staff aligns with IBI’s priorities in operations optimization and asset management.