FMI Capital Advisors is pleased to announce the transfer of ownership of MultiTech, Ltd., a Canadian mechanical and electrical contractor, from ENGIE North America to an affiliate of the Beswick Corporation, part of a group of companies owned by David and Kevin Beswick, investors in the greater Toronto area in Canada.
ENGIE decided to sell MultiTech, Ltd., which it acquired 10 years ago, to a company that could refocus the business on profitable growth opportunities in its core greater Toronto market. FMI Capital Advisors served as the exclusive financial advisor to ENGIE for this transaction, which closed on September 1, 2020.
ENGIE North America Inc. is a power generator, energy services company and retail electricity supplier committed to shaping a more sustainable future throughout the United States and Canada. Globally, ENGIE S.A. makes zero-carbon transition possible for corporations and local authorities, offering global solutions to reduce energy consumption and improve energy efficiency. Learn more at www.engie-na.com and www.engie.com.
About MultiTech, Ltd.
MultiTech, based out of Mississauga, Ontario, is a plumbing, mechanical and electrical contractor that provides fabrication and installation, new construction and retrofit and maintenance services in the greater Toronto area. The company currently employs approximately 100 salaried people, along with 300-400 laborers as union trades professionals.
About Beswick Corporation
For more than 30 years, Beswick Corp has been dedicated to the prosperity of its Canadian company, committed to both its 200-plus employees and their communities. In combination with real estate, infrastructure, mortgages, health care and residential home building, Beswick is excited for the future with MultiTech.
About FMI Capital Advisors
FMI Capital Advisors, a subsidiary of FMI Corporation, is a leading investment banking firm dedicated to the Built Environment. With more than 750 completed M&A transactions, our industry focus enables us to maximize value for our clients through our deep market knowledge, strong technical expertise and an unparalleled network of industry relationships.
FMI Capital Advisors’ Contractor and Construction Services is a dedicated general contractor group, specializing in M&A and capital formation services for emerging growth and midmarket companies.
For more information, visit www.fminet.com/investment-banking.
FMI Capital Advisors Contact
Alex Miller, Managing Director, Contract & Construction Services
D 919.785.9234 | M 704.641.7592