SNC-Lavalin has sold its non-core Real Estate Facilities Management business in Canada to Brookfield Global Integrated Solutions (Brookfield GIS) for $45 million.
The deal includes facilities management, property management, realty management and related project management. The community mailboxes and P3s are not included in the agreement.
“We are aligning our operations and maintenance business in Canada with SNC-Lavalin’s core sectors, by focusing on providing operations and maintenance services in transportation, social infrastructure, P3s, industrial, power, defence and logistics, and oil and gas,” said Ian L. Edwards, president of infrastructure at SNC-Lavalin.
SNC-Lavalin’s Real Estate Facilities Management business in Canada has approximately 1,100 employees.
“This acquistion will allow Brookfield GIS to continue to execute on its growth strategy as a leading real estate facilities management services provider across the globe,” said Gord Hicks, president and chief executive officer (Americas) at Brookfield Global Integrated Solutions. “We are excited about the opportunity to leverage the scale, knowledge and expertise of the combined operations to enhance the business performance of our existing and newly acquired clients”