ADI merges with Ontario company
Published Tuesday November 24th, 2009
Times are changing | Engineering firms say deal is a good fit
ADI Group Inc. will remain a Fredericton-based company when it merges with a much larger engineering firm based in Ontario, says ADI president Paul Morrison.
ADI is merging with Trow Global, based in Brampton, Ont.
Morrison told The Daily Gleaner on Monday that the same ADI management team and personnel will stay in place in Atlantic Canada.
"If you were a customer, I would say nothing changes," he said. "We still will be making decisions locally and we will be accountable through our current management structure.
"That is one of the attractive parts of this transaction. We become their platform for Atlantic Canada."
ADI has about 300 employees and Trow has about 2,400 employees, said Morrison.
"We are a fairly substantive component to that company and we are getting in at the ground level," he said. "We are excited about helping shape how the company moves forward."
Morrison said Trow doesn't offer architecture and construction management services but ADI does.
"They are excited about offering that on their national platform and that will be based out of Atlantic Canada," he said.
Vlad Stritesky, president and CEO of Trow Global, said in a media release that the additional expertise and East Coast presence that ADI offers will enhance the engineering capabilities for both current and future clients within Atlantic Canada, across the country, and internationally.
"ADI's experience in delivering outstanding engineering, architectural, environmental management, project and construction management services creates great opportunities for both of our organizations," he said.
Morrison said there's a lot of consolidation going on in the engineering business. Companies are getting larger and small- and medium-sized firms are disappearing or being forced into narrow niches, he said.
"We have been looking at this for some time and trying to figure out the best we can offer to our customers is a broader-based line of services," said Morrison.
He said Trow Global is a good fit because it comes from the same roots as ADI, including the same corporate values, quality work and it's employee owned.
Both companies are privately owned so no financial details were released about the deal.
"A number of ADI employees will be shareholders as part of this new company," he said. "That is important."
Morrison also said he expects the office in Fredericton to get bigger.
"Our mandate is to grow," he said. "We are encouraged to do this growth through acquisitions and hiring people."
ADI was established in 1945 and has worked on projects in more than 30 countries, using a registered ISO 9001 quality management system.
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Would you rather they go under? Not every business in NB can be owned by a New Brunswicker... unless you'd like Irving and McCain's to buy up everything.
This deal gives ADI a much needed competitive edge, and now they can even create jobs. And that is a good thing.