Colliers International's Englobe acquires Tetranex

Executive Summary

• Colliers International Group Inc.'s Canadian engineering platform, Englobe Corp., has acquired Tetranex Solutions Inc., a multidiscipline engineering consulting firm based in Alberta.
• Under the transaction terms, Tetranex's senior team will become shareholders of Englobe and assume key leadership roles.
• The acquisition is intended to establish a foothold in the energy sector, leveraging Tetranex's expertise in electrical, instrumentation, and controls services.

Key Details

• Acquirer: Englobe Corp. (a platform of Colliers International Group Inc.).
• Target: Tetranex Solutions Inc., a leading multidiscipline engineering consulting firm in Alberta.
• Transaction Structure: Tetranex's senior team will become shareholders of Englobe and play a key role in leadership going forward.
• Financial Terms: Specific financial terms of the transaction were not disclosed.
• Target Profile: Founded in 2010, Tetranex employs approximately 200 professionals.
• Target Services: Specialized electrical, instrumentation and controls (EI&C), automation, and other engineering and procurement services.
• Target Sectors: Primarily serves the oil and gas, agri-food, and industrial sectors.
• Strategic Rationale: To establish a "beachhead" in the energy sector, capitalizing on long-term tailwinds from increased demand for electricity.

Notable Quotes

• Mike Cormier, President of Englobe: "This transaction reaffirms our growth ambition by establishing a beachhead in the energy sector, a market poised to benefit from long-term tailwinds driven by increased demand for electricity. Our differentiated approach continues to position Englobe as an acquirer of choice in the Canadian engineering services market and we are excited to welcome these talented professionals to Englobe."
• David Harman, President of Tetranex: "We are thrilled to partner with a well-respected firm whose culture and values align with ours. Becoming part of Englobe -0-within the broader Colliers platform -- provides our professionals with the scale, expertise and collaborative environment to strengthen our client offering and accelerate our growth."