SNC-Lavalin acquires Newfoundland-based Spectrol Energy Services Inc. for unknown price

Engineering giant SNC-Lavalin Inc. (TSX:SNC) has it has acquired Spectrol Energy Services Inc., a Newfoundland-based provider of engineering and technical services to the offshore energy industry in Atlantic Canada.

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MONTREAL — Engineering giant SNC-Lavalin Inc. (TSX:SNC) has it has acquired Spectrol Energy Services Inc., a Newfoundland-based provider of engineering and technical services to the offshore energy industry in Atlantic Canada.

The pricetag of the deal, announced Thursday, was not revealed.

Spectrol has 75 employees with expertise in inspection, quality, asset integrity, maintenance and reliability engineering for the oil and gas industry and other resources sectors.

“This acquisition complements and enhances our existing resources in St John’s,” said Jean Beaudoin, executive vice-president in charge of global chemicals and petroleum operations.

“SNC-Lavalin now has over 200 engineering staff permanently there, and hence we are well positioned locally to execute significant portions of engineering, procurement, construction projects.“

Bill Fanning, president and chief operating officer of Spectrol, said the acquisition will help the Newfoundland company expand and seek new markets.

“Being part of the SNC-Lavalin team will enable Spectrol to continue to grow and deliver value-added services to its clients in Newfoundland and Labrador, regionally, nationally and internationally.”

SNC-Lavalin is one of the world’s biggest engineering and construction companies.

In Thursday trading on the TSX, SNC-Lavalin shares rose 84 cents to $36.80, a gain of 2.3 per cent.