York Group of Companies Acquires MCS Group
VAUGHAN, ON, March 15, 2021 /CNW/ - York Group of Companies ("York"), a leading provider of environmental and infrastructure services in Ontario, has acquired Toronto-based MCS Group. This acquisition will enhance York's portfolio of services to include hydro excavation, CCTV sewer inspection and flushing, directional drilling, detailed excavation and site services.
Founded in 2003 and specializing in hydrovac excavation throughout the GTA and surrounding areas, MCS Group quickly expanded into a multi-faceted environmental and infrastructure service provider delivered through MCS, Advance Underground, Terex Drilling and North River Construction Inc.
"We are thrilled to have the opportunity to continue to grow our environmental and infrastructure businesses with a team that shares the same values in building trusted relationships through service excellence," says Brian Brunetti, President & COO of York. "MCS Group has a customer-first culture, an exceptional management team, and a strong presence in the industry."
"MCS Group is excited about joining the York team. This combination will allow for continued advancement while broadening our areas of expertise. We are proud of the success our team has made over the years and are excited about the opportunities that lie ahead," says Gennaro Musto, Founder and CEO of MCS Group.
In January 2021, Fengate Asset Management ("Fengate") completed an investment in York on behalf of the LiUNA Pension Fund of Central and Eastern Canada ("LPFCEC"). The partnership with York, Fengate and LPFCEC provided York with growth capital to continue to execute on its robust pipeline of M&A opportunities, and this strategic acquisition marks the first example of such growth.
This partnership between York and MCS will provide York the opportunity to offer environmental and infrastructure customers an integrated service portfolio consisting of demolition, excavation, shoring and foundations, hydrovac excavation, sewer and watermain, directional drilling and detailed excavation services. York is excited to welcome Gennaro and his team to York and jointly accelerate their growth, pipeline of opportunities and enhance their strength in the industry.
About York
Canadian-based York Group of Companies has prided itself as a recognized leader in the environmental and infrastructure industry for over 55 years, having provided bulk excavation, demolition, shoring and foundations, environmental remediation, contaminated soil treatment and transfer, and waste collection and transfer for some of the largest infrastructure, commercial and residential projects in Ontario. In 2021, Fengate Asset Management and LiUNA Pension Fund of Central and Eastern Canada (LPFCEC) invested in York , marking its next phase of growth capital and strategic opportunities.
About Fengate Asset Management
Fengate is a leading alternative investment manager, with over $4.5 billion of capital commitments under management, focused on infrastructure, private equity, and real estate strategies. With offices in Toronto and Oakville, Ontario, and Houston, Texas, Fengate leverages more than 45 years of entrepreneurial experience to deliver excellent investment results on behalf of its clients and transformational growth capital for its portfolio companies. Learn more at fengate.com.
About LiUNA Pension Fund of Central and Eastern Canada
Established in 1972, the LiUNA Pension Fund of Central and Eastern Canada (LPFCEC) is one of the fastest growing multi-employer pension funds across Canada, voted top 10 pension funds by Benefits Canada. With a diverse investment portfolio and $8 billion in assets, LPFCEC has yielded positive returns for the plan, great work opportunities for LiUNA members, and has created many needed institutions across North America through a broad range of alternative investments. Learn more at lpfcec.org.
SOURCE Fengate Asset Management
York Media inquiries: Brian Brunetti, President & COO, York Group of Companies, Tel: (416) 225-7474
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