J.S. Held, a Jericho, NY–based construction industry–focused consultancy, has acquired SPECS (Specialized Property Evaluation Control Services), a Langley, BC–based consulting firm which provides property risk and loss quantification services.
Founded in 1995 by Dave Wallace, SPECS helps insurers, facility managers, property owners, and risk managers evaluate and quantify risk, loss, and damage. From its initial focus on insurance loss assessment, the consultancy has branched out to provide consulting services in large construction project administration, risk management, facility services, and catastrophe response.
SPECS has over 50 consultants across 18 offices in Canada, stretching from Vancouver to St. John’s.
The acquisition expands J.S. Held’s Canadian footprint, where it has extensive operations. The move also strengthens the firm’s offering in building consulting.
Founded in 1974, J.S. Held provides an array of construction consulting services, including project and program management, budgeting, project monitoring, loss estimation, dispute resolution and forensic accounting, damage assessment, contract surety claims, and environmental services. The firm has more than 750 consultants across 80+ offices in the Americas, Europe, and the Middle East.
“With the addition of SPECS into our global operations, J.S. Held holds the unique position as the technical services consulting leader in Canada,” Doug DePhillips, senior EVP of global services at J.S. Held, said. “This supports our continued focus on unparalleled service as we answer the needs of our global client base.”
David Wallace, president of SPECS, commented, “Over 24 years, SPECS has grown from a small market player in Edmonton, Alberta to our current position as a trusted industry leader throughout Canada. We are thrilled to join J.S. Held and gain additional resources and expertise that will bring substantial benefit to our clients.”
The financial terms of the transaction were not disclosed.