Kinectrics Closes Acquisition of Gnosys Global Ltd in the UK

TORONTO, Ontario, July 29, 2019 /PRNewswire/ -- Kinectrics Group ("the Company"), a privately owned, global provider of life cycle management services to the electric power industry, is pleased to announce that it has closed its acquisition of Gnosys Global Ltd. Based out of Guildford, UK, Gnosys is an industrial innovation accelerator with a history of leading large R&D projects and exploiting intellectual property rights for UK's energy sector.   

"This is an exciting company to work for. We are committed to growing our existing product & service portfolios by investing in technology and innovation," states David Harris, CEO of Kinectrics. "This acquisition provides a more complete and mature technology development framework that really strengthens our early-to-mid phase development capability."

The acquisition adds a group of professional scientists, a suite of patents & trademarks and an independent UK facility, located in the University of Surrey Research Park, for innovation and delivery that can be integrated with our existing innovation program initiatives and University partners in Canada. The UK base will allow Kinectrics to more effectively sell group-wide products & services and penetrate Europe's Nuclear, Transmission & Distribution industries.

The combined entities share similar values, technical credibility and a demonstrated history of providing innovative solutions to complex problems. By integrating complementary teams in the areas of life cycle management, inspection techniques, data analytics and high-performance functional materials, the Company possesses the ability to fast track new products and services to market.

Together, through well-structured R&D and innovation programs, the Company's goal will be to improve customers' business by addressing their technical challenges, reducing operating costs and improving productivity, safety and reliability of their assets and operations.

About Kinectrics:
Kinectrics is an integrated life cycle management services company providing testing, inspection, certification and engineering consulting to the electric power generation, transmission and distribution markets worldwide. Kinectrics helps keep the electricity industry's new construction projects and existing operations running smoothly through its independent laboratories, a diverse fleet of field inspection equipment and an award-winning team of over 1,000 engineers and technical experts. From concept to completion Kinectrics partners with customers to ensure that utility assets perform safely, reliably and efficiently throughout their life cycle.  www.kinectrics.com

About Gnosys:
Gnosys is a multi-disciplinary innovation research and development company established in 2006. It specialises in advanced materials development and asset assessment for the energy sector including power generation and electricity and gas disribution and transmission. Gnosys has developed a number of high performance thermoplastic materials for the enhanced operation of power cable systems, self-healing polymer cables and self-healing dielectric fluids for fluid filled power cables and a number of approaches to self-repair systems. Gnosys also works on new materials for next generation high voltage switchgear, rotating machine and transformer insulation systems which form part of Gnosys internationally recognised expertise in electrical insulation materials. www.gnosysglobal.com

Kinectrics: Jarrod Shugg, Director of Strategic Marketing, Jarrod.SHUGG@kinectrics.com, 416.207.6000 ext.5931