Aecon Group Acquires Oaktree’s 27.5% Convertible Preferred Stake in Aecon Utilities

Aecon Utilities Acquires Duna Services and 49% Stake in KNX Utility Services

March 9, 2026

Industrial Services

Aecon Group’s subsidiary, Aecon Utilities Group Inc., acquired Duna Services, LLC and its subsidiaries Arc American, LLC and C.A. Advanced, LLC, and also purchased a 49% interest in KNX Utility Services, LLC. The base purchase price is US$60 million, with potential additional contingent proceeds, financed via Aecon Utilities’ standalone committed revolving credit facility.

Aecon Utilities (Aecon) Acquires K.P.C. Power Electrical Ltd. and K.P.C. Energy Metering Solutions Ltd.

January 6, 2026

Engineering Services

Aecon Group Inc.'s subsidiary Aecon Utilities Group Inc. has completed the acquisition of K.P.C. Power Electrical Ltd. and K.P.C. Energy Metering Solutions Ltd. (collectively, KPC). The acquisition adds high-voltage testing, commissioning and energy metering capabilities in Ontario to Aecon's utilities platform, strengthening its position for grid modernization and electrification projects.

Aecon Utilities Acquires Majority Stake in Xtreme Powerline Construction

July 2, 2024

Construction

Aecon Utilities Group Inc., a subsidiary of Aecon Group Inc., has acquired a majority interest in Xtreme Powerline Construction for a base purchase price of approximately US$73 million. The acquisition expands Aecon Utilities' U.S. electrical distribution capabilities and footprint — Xtreme, founded in 2007 and headquartered in Port Huron, Michigan, has ~300 employees and long-standing relationships with utility clients including DTE Energy.

Oaktree Acquires Stake in Enercon Services from AE Industrial Partners

February 8, 2023

Engineering Services

Funds managed by Oaktree Capital Management have made a significant investment in Enercon Services, Inc., partnering with management to support the company's growth and strategic plans. AE Industrial Partners sold its stake in Enercon as part of the transaction; terms were not disclosed.

ACON Investments Closes $700M Continuation Fund for New Era Cap

August 4, 2022

Consumer Products

ACON Investments closed ACON Strategic Partners II, a single-asset continuation fund of approximately $700 million to effect a partial sale of its ACON Equity Partners IV stake in New Era Cap and to increase its existing ownership. New and continuing investors — led by Apollo Global Management, GCM Grosvenor, Hamilton Lane and Neuberger Berman — joined the fund, and Major League Baseball, the National Football League and the National Basketball Association took minority equity positions as part of the transaction to support New Era's global growth and DTC/retail expansion.

Oaktree Leads $250M Investment in Priority Power

September 1, 2021

Energy

Funds managed by Oaktree Capital Management, together with other institutional investors, are making a $250 million investment in Priority Power, an independent energy services provider focused on decarbonization and grid solutions. Ara Partners, Priority Power's financial sponsor since 2019, will remain an owner as the capital is used to accelerate deployment of renewable generation, battery storage and other smart energy solutions across North America.