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at 12:20 on August 18, 2008, EDT. MONTREAL - Engineering company Genivar Income Fund (TSX:GNV.UN) has acquired Henderson Paddon&Associates Ltd., an Ontario-based civil engineering and environmental consulting firm.
With the acquisition, announced Monday, Genivar adds 70 employees bringing the total in Ontario to above 600 employees. Financial terms of the deal were not revealed. "This acquisition allows us to consolidate our municipal infrastructure, transportation and building engineering expertise. environmentally sustainable engineering solutions are a key focus for GenivarR, and Henderson Paddon's dedication to providing sustainable solutions is consistent with our priorities," said Pierre Shoiry, Genivar's president and CEO. Henderson Paddon has offices in the Ontario communities of Owen Sound, Hanover, Grimsby and Clarksburg. Genivar has more than 3,300 employees across Canada. In trading Monday on the TSX, Genivar units rose half a cent to $24.95.
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