Pomerleau to acquire most of Giffels Westpro assets and projects
By On-Site MagazineConstruction Financing giffels westpro pomerleau
Pomerleau Inc. has signed an Asset Purchase Agreement to acquire most of the assets and projects of Giffels Westpro in Vancouver, Calgary, Toronto, Ottawa and Montreal. Giffels Westpro is owned by Ingenium.
Once this transaction is completed, Pomerleau will increase its project backlog by more than $200 million and ensure completion of coast-to-coast projects initially undertaken by Giffels Westpro.
“Expanding our Canadian footprint is a priority for us,” said Pomerleau president and CEO Pierre Pomerleau. “With this transaction, Pomerleau will be able to boldly enter new markets in Central and Western Canada with greater force. It is a crucial milestone in our bid to strengthen our company’s national presence,” he added. “The Giffels Westpro employees joining us will play an essential role in achieving this goal and we are thrilled to bring them on board.”
With nearly 25 years of construction experience and one of On-Site Magazine’s top 40 Canadian general contractors in 2015, Giffels and Westpro have solid reputations in Central and Western Canada respectively in sectors that complement Pomerleau’s areas of activity. In recent years, successfully completed Westpro projects include an energy centre for the City of Vancouver; an operations and maintenance centre for Canada Line, also in Vancouver; and the civil works for the Forrest Kerr hydroelectric project in northern British Columbia; while Giffels has successfully undertaken the FedEx facilities in Barrie, Vaughan and Markham, Ont. and a campus building addition at Sheridan Institute of Technology and Advanced Learning in Brampton, Ont.
“For Pomerleau to continue delivering the same quality and innovation our clients are accustomed to, we need to find the right team players with the right mindset. By welcoming approximately 100 new qualified and skilled colleagues, this acquisition will increase our geographic reach with a healthy backlog where Giffels Westpro is already a commanding player,” said Francis Pomerleau, President of Pomerleau’s Canadian Building Operations.
This transaction, the price of which will not be disclosed, is expected to close by June 22, 2016.