Manulife-backed engineering services provider Delcan bought by Parsons
Delcan Corp, a Markham, Ontario-based provider of engineering services to the transportation industry, has been bought by Parsons Corp. The acquisition price was not disclosed. According to Parsons, a Pasadena, California-based specialist in engineering, construction, technical, and management services, the deal signals its geographic expansion in transportation. The transaction also provides an exit to Canadian private equity and mezzanine firm Manulife Capital, a division of Canadian financial services company Manulife Financial Corp. Manulife Capital made an equity investment in Delcan in 2011. Founded in 1953, the company posted revenue of approximately $126 million in 2013.
1 April 2014•3 mins read
