SNC-Lavalin Signs Agreement To Acquire Arcturus Realty Corporation
Montreal - SNC-Lavalin Operations & Maintenance, the operations and maintenance division of SNC-Lavalin (TSX: SNC), has signed an agreement to acquire Arcturus Realty Corporation (Arcturus). The completion of the acquisition is subject to the meeting of customary conditions. If all of the conditions are met, the acquisition is expected to be completed by November 30.
“This acquisition will allow us to expand on our current property management and realty services,” said Charlie Rate, Executive Vice-President, SNC-Lavalin. “Arcturus is well known in the industry for its exceptional service and we will maintain continuity with the teams currently serving its clients. With its existing client base, experience and track record, coupled with our reach and service offering, we have an opportunity to redefine the property and facility management industry in Canada.”
Arcturus manages over 35 million square feet of office, retail and industrial properties nationally. With over 350 employees, Arcturus provides a comprehensive scope of real estate services including property management, leasing, development advisory services and facilities management. Its client base consists of financial institutions, insurance companies, major retailers, public sector and private investors.
SNC-Lavalin is one of the leading engineering and construction groups in the world and a major player in the ownership of infrastructure, and in the provision of operations and maintenance services. SNC-Lavalin has offices across Canada and in over 35 other countries around the world, and is currently working in some 100 countries. In business since 1911, the Company celebrates its 100th anniversary in 2011.
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