Infrastructure Acquisitions in Canada

Bit Digital, Inc. (NASDAQ: BTBT) has acquired Enovum Data Centers, a Montreal-based operator of a 4MW Tier 3 high-performance computing (HPC) datacenter, for approximately CAD 62.8 million (about USD 46 million). The acquisition vertically integrates Bit Digital's HPC and GPU hosting initiatives, enabling the company to offer colocation, on-demand computing and to host its own GPUs while supporting expansion plans for additional capacity.

North American Rail Solutions, through its Canadian subsidiary Universal Rail Systems, has acquired Condor Signal & Communications, a rail signals and communications provider based in Oakville, Ontario. The deal brings Condor into Universal Rail's Signals group as an add-on to expand signals & communications capabilities and product offerings across Canada and into the United States; Condor will retain its Oakville offices and continue manufacturing rail switch heaters and related products.

Grain Management, in partnership with StratCap, has acquired a majority stake in 55 Hereford Street (55H), a 127,000 sq. ft., Tier III data center in Brampton, Ontario. The joint-venture plans to expand site power capacity and pursue lease-up opportunities with hyperscalers, wholesale tenants and enterprises as part of a value-add growth strategy.

Aegion Corporation has acquired Infraspec Services, Inc., a Laval, Quebec-based trenchless water rehabilitation contractor that self-performs CIPP, sewer cleaning & inspection, grouting and lead pipeline replacement. Infraspec will continue to operate under its current name and management in Quebec as Aegion expands its capabilities and resources to better serve the Canadian municipal market.

Osmose Utilities Services, Inc. acquired the Geospatial & Asset Management business of Effigis Geo‑Solutions (a division of Cansel), bolstering Osmose’s data-driven inspection and asset‑management capabilities in Canada. The deal extends Osmose’s Canadian footprint (adding operations in Quebec, British Columbia and Ontario) and combines Effigis’s geospatial expertise with Osmose’s inspection, analysis and restoration services to serve major utilities and telecom customers.

SAM Companies, a U.S.-based provider of geospatial and inspection solutions, has acquired Calgary-based Linewise Aerial to expand its aerial mapping and inspection capabilities across the Western U.S. and Canada. The acquisition brings Linewise's team and ultra-high definition aerial mapping technology into SAM to bolster service offerings, geographic footprint, and AI/ML model development for utility transmission and distribution inspections.

Ontario Excavac Inc., a Market Square Equity Partners portfolio company headquartered in Vaughan, Ontario, has been sold to an undisclosed North American infrastructure investor. The transaction — advised by Brown Gibbons Lang & Company and Crosbie & Company Inc. — was completed for undisclosed terms and transfers the leading underground utility services platform to the unnamed buyer.

The Shaughnessy Group announced the completion of a sell-side mandate for an integrated provider of water infrastructure solutions in January 2021. The transaction implemented a succession plan for the company's principal shareholder; the buyer was not disclosed and legal and tax advisors on the deal included Stikeman Elliott, Gowling WLG, MNP and RLB.

Compass Datacenters has completed the acquisition of ROOT Data Center, a wholesale colocation provider in Montreal, Quebec. The deal expands Compass's footprint and hyperscale capacity in North America, giving it strategic presence in Montreal alongside its Northern Virginia and Phoenix campuses.