DRUMMONDVILLE, Que.: CVTech Group Inc. has signed a letter of intent to acquire B.G. High Voltage Systems Ltd., a provider of electrical services, for $2.7 million.
B.G. High Voltage, based in Toronto, plans, installs and maintains substations, transformers, as well as overhead and underground electricity distribution systems.
CVTech, which serves the electrical energy sector in Quebec, Ontario and the eastern US, said the company is expected to generate revenues of approximately $8.5 million for the 12 months ending in March 31.