Jason Sparaga, President of Spara Capital, is pleased to announce the closing of the firm’s most recent transaction; the follow-on acquisition of G-Tel Engineering (“G-Tel”) by Oakville Hydro Energy Services Inc. (“Oakville Hydro”).

Based in Southwestern Ontario, G-Tel is an Ontario leader in the monitoring and maintenance of critical assets for large municipalities and blue-chip utility companies. G-Tel’s services include; asset locate and mapping, natural gas pipeline leak survey and corrosion detection, private/pre-engineering and/or SUE locate services and sewer lateral safety inspections.

The Closing of the G-Tel transaction marks Oakville Hydro’s second acquisition this year  in the industry, following their June 2013 purchase of Niagara-based PVS Contractors Inc.(“PVS”); a transaction also lead by Spara Capital (Click Here For More Info). It also marks the realization of a key Southwestern Ontario beachhead in the organization’s growth consolidation strategy.  Oakville Hydro originally entered the underground asset management and services sector in 2006, with the creation of El-Con Construction Inc., an Oakville based underground utility construction services business.

“G-Tel is able to realize significant synergies from Oakville Hydro’s existing utilities services platform,” said Eric Waxman, Managing Director of Spara Capital.“The strength of G-Tel’s strategic fit was supported by alignment in other key areas, such as culture, customer base and operations.  It became quickly obvious to both sides that this transaction made great sense, which led to the business terms and a deal structure that suited both sides.” “Oakville Hydro has become a significant player in the Province’s Sub-Surface Engineering sector and we have a high degree of confidence in Oakville Hydro and their ability to integrate these businesses effectively and realize value for its Stakeholders,” Waxman continued.
Spara Capital acted as Exclusive Advisor to Oakville Hydro Energy Services Inc.