Brookfield GIS to acquire SNC-Lavalin’s real estate facilities management business
Global real estate facility management provider Brookfield Global Integrated Solutions (Brookfield GIS) has announced its plans to acquire SNC-Lavalin Group Inc.’s Canadian real estate facilities management business.
The agreement is subject to customary regulatory and other approvals, and is expected to close by the end of this year. No financial terms were released.
The SNC-Lavalin unit manages multi-million square feet and employs more than 1,000 team members. Its proposed acquisition is the second this month for Brookfield GIS, coming on the heels of the company’s announcement to buy McKinstry FMS. Markham, Ontario-based Brookfield GIS is backed by the fourth private equity fund of Brookfield Asset Management, which recently closed at US$4 billion.
Gord Hicks, President and CEO, Americas, Brookfield GIS says, “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.”
“This acquisition will allow both companies to move forward with a focus on their respective core businesses while continuing to drive value for clients,” Hicks adds.
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.