Bird Construction Acquires NorCan Electric Inc.
January 18, 2024
Bird Construction Inc. (TSX: BDT) has acquired the assets of NorCan Electric Inc. for $11 million, in a tuck-in to its Stuart Olson industrial services subsidiary. The deal expands Bird's electrical and instrumentation capabilities, adds up to 450 electricians serving the Regional Municipality of Wood Buffalo (Alberta), and supports recurring MSA revenue streams; the purchase was financed ~85% with debt and the balance with Bird treasury shares.
- Buyers
- Bird Construction Inc., Stuart Olson
- Targets
- NorCan Electric Inc.
- Sellers
- NorCan Electric Inc., NorCan's principals
- Industry
- Industrial Services
- Location
- Alberta, Canada
- Transaction Type
- Addon
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