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Construction consulting firm J.S. Held Inc. said Tuesday it has acquired property risk and loss quantification consulting firm Specialized Property Evaluation Control Services Ltd., in a move expanding its building practice in Canada.
Terms of the deal were not disclosed.
Founded in 1995 and with 18 offices across Canada, British Columbia-based SPECS helps insurers, facility managers, property owners and risk managers identify, evaluate and quantify risk, loss, damage and related financial costs, the Jericho, New York-based consulting firm said in a statement.
The acquisition complements J.S. Held’s portfolio of professional services in building consulting and strengthens its ability to support clients throughout Canada, the company said.
About 55 SPECS staff will join the J.S. Held global team of over 750 consultants, and existing clients will have access to the firm’s specialized services in surety, project and program management, equipment consulting, forensic architecture and engineering, and environmental, health and safety, J.S. Held said.
Founded in 1974, and with over 80 offices globally, J.S. Held provides specialized consulting to address complex construction, environmental, accounting and economic matters, according to the statement.
Modular buildings, which are expected to account for a growing proportion of construction projects in the United States, will present few challenges to property underwriters because of superior quality controls, say experts.