IBI Group Inc., a global design and technology firm, announced that it has completed the purchase of the assets of southern Ontario-based Cole Engineering Group Ltd.
According to the announcement, Cole provides a complementary fit for IBI as one of the largest independent civil engineering firms in Ontario. It offers consulting and advisory services in the water, transportation, urban development, and environmental sectors.
Cole’s geographic reach and fulsome 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 Scott Stewart, CEO of the IBI Group.
“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,” added Stewart. “I am pleased to welcome Cole into the IBI family,”
Cole’s established water master planning practice complements IBI’s current expertise in this sector. Cole will provide additional background in water/wastewater demand modelling and planning—providing opportunities to enhance IBI’s BlueIQ™ water operations optimization solution—as well as water infrastructure and facilities design. Additionally, 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 Moshen Mortada, CEO of Cole. “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.”
While the two firms share some common clients in the public and private sectors, the acquisition presents new growth opportunities across practice areas. Cole’s expertise in urban development (industrial, commercial, and institutional) and land engineering complements IBI’s strong capabilities in urban planning, landscape architecture, and electrical and traffic systems. This will enable IBI to offer additional site development services to its property developer clients.
Closing of the Acquisition provides IBI with valuable professional staff resources, which will bolster teams on the firm’s substantial transportation infrastructure backlog through 2021 and beyond. Through the Acquisition, IBI welcomes 180 Cole staff members to its existing team.