Canadian Consulting Engineer

GENIVAR to expand outside Canada

The Financial Post magazine devoted an entire feature to Montreal engineering company Genivar and its CEO Pierre Shoiry on in its April 10 issue. The article by David Pett noted that since Genivar went public in 2006, it has made nearly 50...

April 24, 2012   Canadian Consulting Engineer

The Financial Post magazine devoted an entire feature to Montreal engineering company Genivar and its CEO Pierre Shoiry on in its April 10 issue. The article by David Pett noted that since Genivar went public in 2006, it has made nearly 50 acquisitions and grown its top and bottom lines by nearly four times. Its net earnings were almost $50 million in 2011.

Shoiry said that while he expects the company’s Canadian operations to continue to grow both through consolidation and organically, the company is now looking to expand outside Canada and intends to generate 50% of its revenues from outside Canada in the next three years.

He suggested that the company will adopt the same methodical approach to expansion internationally as they have in Canada. They are looking to expand into the United States, British Commonwealth countries, “as well as certain emerging markets that don’t have political risk.”

Just in January, Genivar acquired Consultores regionales asociados, an engineering company of 340 people in Bogota, Columbia.

To see the article, click here.

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