Bird’s Strategy: Keep on Growing
Bird Construction outlined strategic plans at its first ever Investors' Day.
Bird Construction held its first ever investors’ day on September 9, and the message from the virtual meeting was clear: the company plans to continue its strategy to grow and diversify.
Following its headline-making move to acquire Stuart Olson Inc. in July 2020, Bird will not rest on its laurels, outlined President and CEO Teri McKibbon.
He said he felt the company has reached a point where it can accelerate its growth initiatives and still keep true to its roots.
In describing the framework of its new strategic plan, McKibbon said Bird will continue to grow in geographic reach and in terms of sector diversification, both of which were helped along by the acquisition of Dagmar Construction at the end of August. He said this move will really help Bird in the infrastructure sector.
McKibbon added that the company’s ongoing focus will be on higher margin projects and it will continue with its M&A strategy “where we see a strategic fit that will allow us to accelerate our growth and become larger, stronger and more competitive in the construction arena.”
He described the “transformative acquisition of Stuart Olson” as the highlight of his time running Bird. McKibbon said that the takeover provided Bird with multiple benefits including, increasing its geographic footprint and service offering, reducing its risk profile and enhancing its pool of workers.
He added the process of integrating Stuart Olson is going well and is “on track, if not ahead” of schedule.
McKibbon’s state of the union address was followed by: an overview of operations and strategic priorities by COO Gilles Royer and other key executives; people, culture and ESG overview; the Board perspective; the company’s financial overview and outlook; and, finally, a fireside chat with McKibbon and CFO Wayne Gingrich.
You can watch the entire presentation in the video below.