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FNX-INNOV acquires the SM Group for C$40 million

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On December 14, 2018, FNX-INNOV Inc., an innovative Québec engineering company that handles major projects, announced its acquisition of the assets of almost all of the companies that make up the SM Group engineering firm. The transaction, for a value of approximately $40M, was approved by the Superior Court of Québec.

FNX-INNOV is taking over the contracts that the SM Group already has underway, including the contracts for the new Champlain Bridge, the Turcot interchange, the Caisse de dépôt et placement du Québec electric train, and the Réseau express métropolitain. The activities that FNX-INNOV is now taking over relate to the environment, infrastructure and telecommunications and to the energy and construction industries.

This transaction took place when the members of the SM Group had obtained an initial order under the Companies’ Creditors Arrangements Act. It is noteworthy for both its complexity and the short time frame in which the deal was concluded.

Fasken represented FNX-INNOV in this transaction, with a team led by Luc Béliveau that also included Marc-André Morin and Nicolas Mancini (Restructuring), Carl Bélanger and Kadiatou Sow (Mergers and Acquisitions), Martin Racicot and Alexandre Gagnon (Banking), and Youssef Fichtali (Corporate/Commercial)



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