Construction/Building — September 2, 2010

Pryde Schropp McComb, Inc. Acquired by GENIVAR Income Fund - Local organization joins leading Canadian engineering firm

PORT ELGIN, ON, Sept. 2 /CNW Telbec/ - Consulting engineering firm Pryde Schropp McComb, Inc. ("PSMI"), is pleased to announce it has joined GENIVAR Income Fund ("GENIVAR"), a leading Canadian engineering services organization. PSMI's leadership team, including President Brad Pryde P.Eng. and Vice President Bernhard Schropp P.Eng., will remain with the firm and PSMI's 40 staff members will continue to serve clients.

"GENIVAR is really the perfect fit for us," said Brad Pryde. "Our culture and values are completely aligned and our strong entrepreneurial spirit is matched by that of GENIVAR, enabling us to continue to offer practical and innovative solutions to our clients in the manner that they have come to expect. We plan to integrate with GENIVAR's Owen Sound/Hanover offices and we look forward to joining forces to improve the level of services we can offer to our Bruce and Grey County clients."

With an increasing national and local need for infrastructure renewal, consulting engineering is a growing market segment. With GENIVAR's comprehensive resources and vast pool of multidisciplinary skills backing it, PSMI is in an enhanced position to take advantage of growing opportunities in the market. PSMI's expertise in municipal and land development design, land surveying and planning will continue as important parts of the overall business.

"Joining GENIVAR is not only a good fit for us, but it opens up so many possibilities, enabling us to undertake larger and more complex projects," said Brad Pryde. "Our staff will also have increased career and project opportunities both here and abroad."

PSMI's staff operates from five locations in Ontario and Alberta, while GENIVAR has more than 4,500 staff across 85 locations in Canada, Trinidad and Tobago, and Algeria. In 2009, GENIVAR completed a diverse range of projects in over 20 different countries.

"We're very excited to have acquired Pryde Schropp McComb, Inc.," said Pierre Shoiry, President and CEO of GENIVAR. "PSMI has a strong history of success and is well respected in the fields of planning, engineering, and land development throughout Bruce and Grey Counties.

GENIVAR's decentralized business model provides flexibility and close client relationships by focusing on a regional approach while giving access to the entire range of expertise of its broad network. This model has proven successful during GENIVAR's active pursuit of strategic growth, attracting over 40 firms to join it in the past four years.

About Pryde Schropp McComb, Inc.
Pryde Schropp McComb, Inc., founded in 2001 by Brad Pryde, P.Eng., Bernhard Schropp, P.Eng., and the late Rick McComb, P.Eng., has more than 40 employees, including licensed professional engineers, planners, design/GIS Technologists, computer-assisted drafting technicians, programmers, surveyors and administrative support staff. We offer municipal engineering including design, and construction inspection of storm water management, drainage, water distribution and sanitary systems and subdivision planning and design. Our offices are located in Port Elgin, Ottawa, Toronto and Kitchener, Ontario, as well as Calgary, Alberta.

About GENIVAR
GENIVAR is a leading Canadian engineering services firm providing private and public-sector clients with a complete range of professional consulting services throughout all project phases, including planning, design, construction and maintenance. Ranging in size and scope, GENIVAR's clients primarily operate in the building, industrial, power, municipal infrastructure, transportation and environmental sectors. GENIVAR is one of Canada's largest engineering services firms by number of employees, with more than 4,500 managers, professionals, technicians, technologists and support staff in more than 85 offices in Canada and internationally. www.genivar.com

For further information:

Brad R. Pryde, P.Eng.
President, Pryde Schropp McComb, Inc.
519-389-4343, Ext. 223

Pierre Shoiry President and CEO
GENIVAR Income Fund
514-340-0046, ext. 5104

Marlene Casciaro, Director of Communications
GENIVAR Income Fund
514-340-0046, ext. 5184

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