IBI Group acquires Cole Engineering
IBI Group Inc. announced on December 1 that it has acquired the assets of Markham’s Cole Engineering Group Ltd.
The move means that 180 employees from Cole will join IBI and help to clear the larger firm’s substantial transportation infrastructure backlog through 2021.
Cole Engineering was founded in 2003, and offers consulting and advisory services in the water, transportation, urban development and environmental sectors. The company’s 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,” said IBI Group CEO Scott Stewart. “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.”
In an acquisition announcement, IBI Group listed a number of complementary offerings between the two firms. Cole’s expertise in urban development and land engineering, for example, complements IBI’s capabilities in urban planning, landscape architecture, and electrical and traffic systems. Uniting the companies allows IBI to offer additional site development services to its property developer clients.
Additionally, Cole’s established water master planning practice complements IBI’s current expertise, bringing additional background in water/wastewater demand modelling and planning as well as water infrastructure and facilities design.
Finally, Cole’s training and accreditation program for water facilities staff aligns with IBI’s priorities in operations optimization and asset management.
“The combined IBI/Cole team will be one of the most significant infrastructure engineering teams in Canada,” said Cole CEO Moshen Mortada. “With a client service focus, cultural synergies and growth opportunities for employees across organizations, IBI’s transformative digital strategies, and strengthened project delivery capabilities, I am confident this transition will bring tremendous value to our stakeholders.”
A transaction value has not been announced.