MultiTech, Ltd. Transfers Ownership to Toronto-based Affiliate of Beswick Corporation
September 2, 2020 – Houston, TX – ENGIE North America announces a new owner for MultiTech, Ltd., a Canadian mechanical and electrical contractor. As of September 1st, ownership has transferred to an affiliate of 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., acquired 10 years ago, to a company that could refocus the business on profitable growth opportunities in its core greater Toronto market.
MultiTech, based out of Mississauga, Ontario, operates as a plumbing, mechanical and electrical contractor that offers 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 to 400 laborers as union trades professionals.
Gwenaelle Avice-Huet, Executive Vice-President responsible for ENGIE Renewable business line and CEO of ENGIE North America, stated that she “appreciates the dedication of both the local MultiTech team and the ENGIE professionals that allowed for the best option for both parties and a successful transfer of ownership to the Beswick Corporation.”
“On behalf of Beswick Corp Management, our current employees and families, we look forward to welcoming our new team in servicing and growing our local areas. As a tier one, locally family owned multi trade organization, we are absolutely committed to growing MultiTech and remaining at the forefront of the industry,” said David Beswick & Kevin Beswick.
FMI Capital Advisors, Inc. served as financial advisor to ENGIE in the transaction.
About ENGIE North America
ENGIE North America Inc. offers a range of capabilities in the United States and Canada to help customers decarbonize, decentralize and digitalize their operations. These include comprehensive services to help customers run their facilities more efficiently and optimize energy and other resource use and expense; clean power generation; energy storage; and retail energy supply that includes renewable, demand response, and on-bill financing options. Nearly 100% of the company’s power generation portfolio is low carbon or renewable. Globally, ENGIE S.A. relies on their key businesses (gas, renewable energy, services) to offer competitive solutions to customers. With 170,000 employees, customers, partners and stakeholders, we are a community of Imaginative Builders, committed every day to more harmonious progress.
For more information on ENGIE North America, please visit our LinkedIn page or Twitter feed, www.engie-na.com and www.engie.com.
About Beswick Corporation
For more than thirty years, Beswick Corp has been dedicated to the prosperity of their Canadian company. From grassroots to a field in excess of over 200 employees, they are in a solid footprint to work with ENGIE and will continue to solidify their commitment to both their employees and their communities. In combination with real estate, infrastructure, mortgages, health care and residential home building, Beswick Corp is excited for their future.
ENGIE North America Media Contact:
Sandrine Deparis, sandrine.deparis@engie.com, (202) 855 3705