Construction Acquisitions in Canada

Bird Construction Inc. has acquired Fraser River Pile & Dredge (FRPD) from private equity owner TriWest Capital Partners. FRPD, headquartered in New Westminster, British Columbia, is a longstanding Canadian marine construction, pile/foundation and dredging contractor with a workforce of over 300; the deal adds specialized marine and dredging capabilities to Bird’s service offering to support infrastructure and nation-building projects across Canada.

Unity Partners, a principles-based private equity firm, has completed a strategic investment in The Byng Group, a Toronto-based provider of end-to-end unit turnover, repair and renovation services for multifamily and senior living properties. The capital will support Byng’s U.S. geographic expansion, employee ownership program rollout, and continued organic growth and M&A initiatives; terms were not disclosed.

Groundworks, a Virginia Beach–based foundation and water management solutions company, has acquired Toronto-based Clarke Basement Systems, marking Groundworks' third location in Canada. The deal expands Groundworks' presence into Canada's largest market and brings Clarke's two decades of local expertise under Groundworks' national platform.

Bird Construction Inc. (TSX: BDT) entered into a definitive agreement to acquire Surrey, British Columbia–based Jacob Bros Construction for an estimated aggregate consideration of $135 million, comprising cash, shares and assumed equipment debt. The acquisition establishes Bird in BC's civil infrastructure market, adds self-perform capability and scale (Jacob Bros: ~350+ employees, ~$300M revenue) and is expected to be approximately 10% accretive to Bird's full-year adjusted EPS.

Infinity Home Services has acquired D'Angelo & Sons Roofing & Exteriors, a 45-year-old roofing and exterior company operating in Ontario, marking Infinity's first expansion into Canada and its 13th acquisition in two years. The deal brings D'Angelo's local brand and operations into Infinity's portfolio to drive operational efficiencies, preserve the family brand, and expand Infinity's North American footprint.

Lafarge Canada Inc. led an equity investment in Toronto-based EXACT Technology Corporation to accelerate digital solutions for the concrete and construction industry. The strategic investment brings industry expertise and global reach to help EXACT scale its hardware and software offerings for concrete monitoring, curing and tracking.

Hillcore Group has completed the acquisition of Midlite Construction Ltd., a Fort McMurray-based powerline construction and maintenance company. The deal expands Hillcore's industrial and utility services capabilities and strengthens its regional presence across Alberta and Western/ Northern Canada.

GNI Management Group Inc., an Ironbridge Equity Partners portfolio company, has acquired Winnipeg-based Advanced Insulation Inc., a provider of insulation services focused on new-home construction and retrofit markets in the Winnipeg region. The deal expands GNI’s geographic footprint into Manitoba; Advanced’s president Evan Lavallee will remain as branch manager to support integration and local growth.

Hillcore Group has completed the acquisition of control of Ruskin Construction Ltd. Ruskin Construction, founded in 1989 and employing over 250 professionals with locations in British Columbia and Alberta, provides heavy civil, bridge, marine, railway and foundation construction services to oil & gas, forestry, transportation and mining clients across North America.

Hillcore Group has completed the acquisition of Thompson Construction Group. Thompson, a Spruce Grove, Alberta–based heavy civil contractor with over 1,500 employees and a large equipment fleet, will partner with Hillcore and its senior management to expand service capacity, pursue capital expenditure and acquisition opportunities, and support geographic growth across Western Canada.

Granite Construction (NYSE: GVA) has completed the acquisition of Coast Mountain Resources (2020) Ltd., the operator of the Bamberton Quarry on Vancouver Island, British Columbia, located on Malahat First Nation land. The acquisition strengthens Granite's vertically integrated construction materials footprint in its home markets and Granite says it will work with the Malahat First Nation to manage a safe and environmentally responsible operation.

GNI Management Group Inc., an Ironbridge Equity Partners portfolio company, has acquired St-Esprit-based insulation contractor Isolation Majeau et frère inc. The add-on expands GNI's footprint into Quebec (its first expansion beyond Ontario) and aims to broaden IMF's capabilities and service coverage in the Greater Montreal region; financial terms were not disclosed.

Alimak Group acquired Tall Crane Equipment Ltd., a Langley, British Columbia-based licensed elevator contractor and crane/hoist rental provider. The transaction closed on August 24, 2022 and expands Alimak Group's construction division and its footprint in Canada to provide rental, parts and service capabilities.

Priestly Demolition Inc. completed a majority acquisition of Windsor-based Jones Group Ltd., combining the two firms to pursue larger demolition, abatement and remediation projects across Canada and the United States. Jones Group’s leadership will continue to work with Priestly to expand capabilities and geographic reach while integrating equipment, technical and operational resources.

Cooper Equipment Rentals, a SeaFort Capital‑backed rental platform, acquired EZE Rent‑It Centre (three locations in the Fraser Valley, British Columbia) and Stayner Rental (one location in Stayner, Ontario). The transactions are add‑on acquisitions that expand Cooper’s branch network and presence in British Columbia and Southern Ontario.

Los Angeles-based private investment firm Breakwater Management LP has completed its inaugural control private equity platform investment in Matcon Group of Companies, a Coquitlam, British Columbia commercial contractor specializing in excavation, shoring, environmental remediation and demolition. The transaction includes a co-investment from the Cherng Family Trust and debt financing provided by TD Bank; Matcon founders remain significant rollover shareholders.

STACK Construction Technologies has acquired SmartUse Solutions, a mobile document viewing, markup and collaboration platform for the construction industry. The acquisition expands STACK's preconstruction platform into field operations and project turnover, bringing SmartUse's mobile-first capabilities and team into STACK's cloud-based construction workflow.

Lafarge Canada Inc. has acquired the Alberta-based assets of Mixcor Aggregates Inc., adding 26 aggregate sites and approximately 50 employees to Lafarge's operations. The transaction expands Lafarge's footprint in Alberta and supports its sustainable/green construction strategy.

Day & Zimmermann, the family-owned U.S. construction and engineering firm, has acquired EMC Power Canada Ltd., an Ontario-based specialist in trade services and construction for power generation and distribution. The purchase expands D&Z’s union staffing, project management and service capabilities in the Canadian power market.

Beacon Mergers & Acquisitions completed a sell-side mandate to facilitate the sale of a 22-year-old commercial landscape construction business to an undisclosed strategic buyer. The transaction was driven by the owner’s succession plan and was completed in late April 2020 after a confidential marketing and due-diligence process despite COVID-19 related challenges.