Pomerleau buys majority stake of Aecon’s Atlantic building division
August 18, 2015 by STAFF REPORT
Pomerleau has purchased a majority stake in Aecon Group’s Atlantic Buildings Division for an undisclosed amount as the Quebec-based firm continues its cross-Canada expansion strategy.
“We are extremely pleased with the transaction and enthusiastic about having skilled and talented multi-disciplinary professionals join our Atlantic team,” said President and CEO Pierre Pomerleau in release issued this afternoon.
“This acquisition further strengthens our position as a leader in Atlantic Canada and demonstrates our strong commitment to becoming the contractor of choice across the region,” he added. Pomerleau, recently ranked 7th in On-Site’s Top 40 Canadian Contractor Survey, is increasing its Atlantic Region project management staff by more than 60 per cent.
“Our goal is to increase awareness of the Pomerleau brand nationally and be recognized for our leadership in health and safety, sustainable buildings innovation and virtual design and construction. There is great demand for construction in Eastern Canada— and we are doing what needs to be done to meet this need,” said Pomerleau. “The deal with Aecon’s Atlantic Buildings Division is one milestone in the pursuit of our strategic objectives,” he concluded.
Together, Pomerleau and Aecon’s Atlantic Buildings Division boast a solid record of successfully completed projects in the Atlantic Canada region, including water treatment plants, convention centres, military facilities and government buildings and schools.
Pomerleau, which has been operating in Eastern Canada for nearly 20 years, and Aecon’s Atlantic Buildings Division, present in the Maritimes since 2003, each currently have several projects underway in the region. Pomerleau is actively committed to their completion.
Pomerleau is one of Canada’s leading construction companies and a pioneer in sustainable buildings. It specializes mainly in the building, infrastructure and civil engineering sectors. Founded 50 years ago, the company employs up to 4,000 people working at its 11 regional offices and worksites across the country. With annual sales of more than $1.6 billion in 2014, Pomerleau is a full-service firm and offers general contracting, project management, construction management and design-build contractual modes among others, as well as alternative financing arrangements. In addition, it is a champion of virtual design and construction. Pomerleau’s divisions include Civil, Buildings, Neilson, Santerre and Beaubois, and it co-owns Borea Construction, the leader in the Canadian wind farm industry.