PE Deals

CDPQ-backed Bouthillette Parizeau buys Cleland Jardine Engineering

Cleland Jardine Engineering is an Ottawa-based structural engineering consulting agency.

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  • Based in Montreal, Bouthillette Parizeau is an engineering business specializing in buildings for the institutional, commercial, multi-residential and industrial markets
  • CDPQ acquired a minority stake in the company in 2022
  • The acquisition of Cleland Jardine is Bouthillette Parizeau’s first since CDPQ’s initial investment

Bouthillette Parizeau (BPA), backed by Caisse de dépôt et placement du Québec (CDPQ), has acquired Cleland Jardine Engineering, an Ottawa-based structural engineering consulting agency. No financial details of the transaction were disclosed.

Based in Montreal, Bouthillette Parizeau is an engineering business specializing in buildings for the institutional, commercial, multi-residential and industrial markets. In 2022, it secured a minority investment from CDPQ to back its pan-Canadian strategic growth plan.

The acquisition of Cleland Jardine is Bouthillette Parizeau’s first since CDPQ’s initial investment. It will provide a more comprehensive service offering for clients and help Bouthillette Parizeau reach into new markets, the company said in a statement.

“By adding Cleland Jardine and its 65 employees to the BPA team, we will grow our presence in the Ottawa area, becoming more firmly rooted in Ontario and positioning ourselves to offer services in all provinces across the country,” said Patrick St-Onge, executive vice-president at Bouthillette Parizeau.

Montreal-headquartered CDPQ is a global investment group managing funds for Quebec public retirement and insurance plans. It had net assets totaling C$402 billion as on 31 December 2022.