The Ingenium Group has purchased Stonefield Development Consultants and intends to sell member companies Giffels Associates Limited, Giffels, Inc., Giffels of North Carolina; and Giffels International to the IBI Group IBI Income Fund.
The transaction does not include Giffels Design Build Inc., which will remain a member of the Ingenium Group of companies. The businesses acquired by IBI will retain the Giffels brand and will be known as Giffels Professional Engineers.
“The sale of the Giffels consulting units will provide a greater opportunity for them to thrive as their activities are more aligned with IBI’s strategic focus,” says Victor Smith, president and CEO, The Ingenium Group. “The funds that are generated from this transaction will be redeployed to continue to acquire or invest in businesses and real estate assets that are more closely aligned to Ingenium’s new streamlined strategy and that will generate higher returns on investment.”
With offices in Alberta, British Columbia and Colorado, Stonefield Development Consultants provides land use planning, project management, public consultation and landscape architectural services to the residential and resort development industries.
The Ingenium member company brands include NORR, PMA, Giffels Design Build, and CION. They employ more than 900 professional staff in offices in Canada, the United States, Latin America, the Middle East, Eastern Europe and Asia.