XCG Consulting Ltd. (XCG) announced on May 2, 2017 that it has sold the XCG Water Group, as well as the XCG Training and Operations unit, to Cole Engineering Group Ltd., an Ontario-based engineering and consulting company. The transaction closed on May 1, 2017.
According to XCG, the sale allows it to concentrate on growth in its core business areas as well as provide opportunity to more aggressively pursue geographic and capacity expansion through potential acquisitions.
Tom Williams, president of XCG, said in a press release that, “XCG is a growing and dynamic organization and this transaction will provide significant working capital to enable XCG to more aggressively pursue new opportunities and acquisition targets in our core business areas. The sale will accelerate XCG’s expansion of our site assessment, remediation, risk assessment and solid waste services to better serve our national and regional clients, while also providing technical and professional growth opportunities for our staff.”
Mohsen Mortada, president of Cole Engineering, said “By combining XCG’s industry-renowned experts in water, wastewater and stormwater with our existing team of planners and engineers, we have further enhanced Cole’s position as Ontario’s leader in water and wastewater consulting.”
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For more information, visit: www.xcg.com
