Westinghouse Electric Company, a portfolio company of Brookfield Business Partners L.P. (NYSE: BBU; TSX: BBU.UN), has acquired NA Engineering Associates Inc. Financial terms were not disclosed.
The acquisition supports Westinghouse’s strategic growth initiatives by expanding the company’s footprint in Canada. Through the transaction, Westinghouse acquires the Canadian facilities that comprise the current NA Engineering Associates footprint, including offices in Kincardine, and Stratford, London and Pickering and adds approximately 60 technical and professional employees.
Founded by Nick Aroutzidis, NA Engineering Associates Inc. is a provider of comprehensive engineering solutions including significant nuclear expertise.
From its Kincardine office, NA Engineering services its major client Bruce Power’s Nuclear Generating Station.
On August 1, 2018, together with institutional partners, Brookfield Business Partners closed the acquisition of Westinghouse Electric Company from Toshiba for approximately US $4 billion.
Brookfield Business Partners is the flagship listed business services and industrials company of Brookfield Asset Management Inc. (NYSE: BAM; TSX: BAM.A; EURONEXT: BAMA), a leading global alternative asset manager with approximately $285 billion of assets under management.
Source: Private Capital Journal