Brown Gibbons Lang & Company (BGL) is pleased to announce that its Environmental & Industrials Services (EIS) investment banking team served as financial advisor to Veolia for the divestment of the Canadian Industrial Cleaning Division (the Division) to Ortec Group (Ortec), a French-based international multiservice group of engineering, industrial, environmental, and construction solutions. The acquisition provides Ortec a first North American foothold for its global industrial cleaning operations. The specific terms of the transaction were not disclosed.
Headquartered in Quebec, Canada, Veolia’s Canadian Industrial Cleaning Division is the largest provider of industrial cleaning services in Eastern Canada operating out of 20 branch locations in Quebec, Ontario, and British Columbia. The Division provides a broad range of specialized and critical services to a broad set of markets, including mining, municipal, petrochemical refining, chemical, and pulp & paper, among others. Such services, including industrial vacuuming, hydroblasting, CCTV inspection, sewer line and pipe cleaning, waste transportation, and spill response, are provided to support routine maintenance, plant turnaround/shutdowns, and urgent on-demand service needs.