AFTER nearly a half-century in business, a Winnipeg manufacturer and exporter has completed its first acquisition.
Controlled Environments Ltd. (Conviron), the world's largest designer and supplier of plant-growth chambers and growth rooms for the agricultural research industry, announced Wednesday it has acquired White Rock, B.C.-based Argus Control Systems Ltd. for an undisclosed sum.
Argus is the North American leader in the design and supply of advanced automated monitoring and control systems for greenhouses and other commercial horticultural applications, as well as for the aquaculture and biotechnology industries.
Conviron president and CEO Steve Kroft said the acquisition will enable both companies to grow their sales in North America and abroad. Argus will operate as an independent business unit under its own name.
"In the last six or seven years, we have seen considerable growth, but it's all been organic growth," Kroft said of Conviron, in business since 1964. "This is our first acquisition, so it's very meaningful for us in that respect."
He wouldn't say how much Conviron's sales are expected to increase as a result of the deal.
"Suffice it to say that the acquisition will lead to revenue growth for both Argus and Conviron's core business, and that it will be material."
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