Realized Investments

Transaction Summary

ONCAP initially invested in 2006 and built Englobe Corp. (“Englobe” or “the Company”) through a series of acquisitions in the environmental and engineering services sectors.

Business Description

Headquartered in Laval, Québec, Englobe is a leading provider of engineering and specialty environmental services to public and private sector clients in Canada, France and the U.K. The Company’s operations consist of two business units: Engineering Services, which provides offerings such as geotechnical and structural engineering, material testing and inspection, environmental engineering, and other specialty engineering services; and Materials Management and Beneficial Reuse services, which treat contaminated soil and organic waste at its customer sites and at Englobe’s facilities.

Accomplishment and Outcome

ONCAP was attracted to Englobe due to the Company’s innovative people, strategic facilities, strong customer relationships, and cash flow characteristics; increasing demand for environmental services focused on beneficial reuse of waste streams; the growing need to upgrade public infrastructure; and the opportunity to consolidate a fragmented market.

ONCAP transformed Englobe from a regional Quebec company into leading engineering and environmental services businesses with over 3,000 people operating in Canada, the US, France and the UK. During ONCAP’s ownership, EBITDA grew by over 20x through organic initiatives and M&A. Englobe strengthened its leadership team through additions to the Board, executive team and regional management and drove operational initiatives that accelerated growth and expanded margins. At exit Englobe was one of the top five engineering services firms in Canada and a leading international environmental remediation and beneficial reuse company.

In July of 2024, ONCAP exited its investment by selling the Engineering Services and MMBR business units to two different strategic acquirors.