Business Moves: Aug. 2025

Weldco Heavy Industries acquired by PFM, McKay Métis Group

PFM Capital Inc. and McKay Métis Group have completed the acquisition of Weldco Heavy Industries, a steel fabrication and repair facility specializing in heavy mining equipment for the Athabasca Oil Sands. Founded in 2009, WHI operates a 60,000-square-foot facility in the Fort MacKay Caribou Energy Park, providing haul truck box and shovel refurbishments, large-scale steel repairs, and assembly projects. The company’s senior management team will remain in their roles to ensure continuity during the transition.

Lowes to acquire FBM for US$8.8B

Lowe’s Companies Inc. has struck a deal to buy Foundation Building Materials (FBM) for US$8.8 billion in cash, expanding its reach in the professional contractor market across North America. FBM, a distributor of drywall, insulation, ceiling systems and other building products, operates more than 370 locations in Canada and the U.S. and reported about US$6.5 billion in revenue in 2024. Lowe’s says the acquisition, expected to close in late 2025 pending regulatory approvals, will strengthen its “Total Home” strategy, enhance services for professional customers and be accretive to earnings in its first full year after completion.

J.S. Held expands with GHL Consultants purchase

J.S. Held, a US-based technical and forensic advisory firm, has acquired GHL Consultants Ltd., a Vancouver-based fire engineering and building code consulting firm. Founded in 1992, GHL has 48 employees and specializes in building code compliance, fire engineering solutions, wood fire safety, transportation advisory, and legal and forensic services. The acquisition expands J.S. Held’s Canadian presence, following earlier purchases of Montreal-based Technorm and other Canadian firms including Frostbyte Consulting and Examine Construction Consultants.

Crewscope raises $1M in pre-seed funding

Crewscope, a Toronto-based startup, has raised over $1 million in pre-seed funding to accelerate development of its field operations AI software for construction and industrial teams. Led by Groundbreak Ventures with strategic partnership from EllisDon, the platform helps crews align weekly goals with critical path schedules and provides real-time progress updates. The company reports customers have achieved up to 10% gains in labor productivity and improved forecast accuracy across projects with leading developers, contractors, and mining operations.

Swift Supply acquires Platinum Valve Solutions

Swift Supply has acquired Platinum Valve Solutions, a Western Canada–based company specializing in valve products and technical support for the energy sector. Platinum Valve will continue to operate under its existing name as a division of Swift Supply. The acquisition expands Swift’s presence in Western Canada and adds to its range of products and services, which include pipe, valves, fittings, actuation, and valve servicing. Swift Supply, a privately owned Canadian distributor with 21 branches nationwide, said the move strengthens its ability to support customers across the energy industry.

Nelson Roofing & Sheet Metal partners with Parcel B

Nelson Roofing & Sheet Metal Ltd has successfully partnered with Parcel B Limited in a transaction advised by MNP Corporate Finance. The partnership allows Nelson Roofing’s shareholders to implement their succession strategy while preserving company culture and ensuring continued growth. The deal represents a strategic move for the British Columbia-based roofing and sheet metal company to secure its long-term success under new ownership structure.

Aecon acquires Bodell Construction Company

Aecon Group Inc. has acquired Bodell Construction Company, an industrial construction company headquartered in Salt Lake City, Utah. Founded in 1972, Bodell is a privately-owned, non-union company with approximately 150 employees specializing in oil and gas, mining, water and wastewater, and power generation projects across the Western and Southern U.S. The acquisition strengthens Aecon’s core industrial capabilities, increases recurring revenue, and positions the company for expansion in key U.S. sectors and target markets.

NACG secures $2B contract in Australia

North American Construction Group Ltd. has secured a $2-billion, five-year contract extension in Queensland, Australia, marking the largest signed contract in the company’s history. The MacKellar Group, NACG’s wholly owned subsidiary, will provide mine services to an existing coal producer client through April 2030. This extension increases the company’s total contractual backlog to a record $4.0 billion, with Australian operations alone contributing $3.0 billion, providing full revenue visibility through 2029.

Blackstone now majority owner of Enverus

Blackstone announced it has reached a definitive agreement to acquire Enverus, a Texas-based energy data analytics and software company, from Hellman & Friedman and Genstar Capital. Founded in 1999, Enverus provides real-time analytics and insights to more than 8,000 customers across 50 countries, including most major U.S. energy producers and tens of thousands of suppliers. The deal, which underscores Blackstone’s focus on investments tied to energy transition and rising electricity demand, is expected to close by the end of the year pending customary approvals. Terms of the transaction were not disclosed.

Chartwell Resource Group merges DWB Consulting Services

Chartwell Resource Group Ltd. has merged with DWB Consulting Services Ltd., a portfolio company of CAI Capital Partners. Fort Capital Partners acted as financial advisor to Chartwell in the transaction. The deal brings together two consulting services companies, with Fort Capital facilitating the strategic combination that positions the merged entity for enhanced market presence and expanded service capabilities.

Saint-Gobain buys business assets of Interstar Materials

Saint-Gobain Group has acquired the business assets of Interstar Materials Inc., a North American manufacturer specializing in construction chemicals and decorative concrete products. The acquisition marks Saint-Gobain’s entrance into granular pigments for concrete and follows recent acquisitions of Chryso in 2021 and GCP Applied Technologies in 2022. Interstar will continue operating from its headquarters in Sherbrooke, Quebec, plus facilities in Calgary, Alberta and Junction City, Illinois, with Saint-Gobain welcoming 55 new employees while maintaining the Interstar brand.

Tomlinson Group takes over Loyalist Quarry

Tomlinson Group has announced it is now operating the Loyalist Quarry in Odessa, Ontario, following its 2024 purchase of the property. This strategic addition strengthens the company’s network and enhances its ability to serve customers along the 401 corridor. As part of the Kingston community, Tomlinson Group emphasizes its commitment to growing with purpose and contributing meaningfully to the local area.

QuadReal acquires U.K. student housing portfolio

QuadReal Property Group has acquired an eight-asset, 3,460-bed purpose-built student accommodation portfolio in the U.K. from funds managed by Apollo Global Management for over $913 million. The Vancouver-based real estate investor targeted key markets including London, with six of the eight properties located within Russell Group universities. All buildings were developed within the last five to seven years and feature modern amenities including gyms, co-working spaces, and common areas. The acquisition aligns with QuadReal’s fundamentals-driven residential strategy in Europe, capitalizing on structural undersupply and growing student populations.

Heidelberg acquires BURNCO’s Edmonton assets

Heidelberg Materials North America has entered into a binding purchase agreement to acquire the assets of BURNCO Rock Products Ltd in Edmonton, Alberta. The transaction includes six aggregates sites, two asphalt plants, one bitumen storage terminal, three ready-mixed concrete plants, and one rail-served cement terminal in the Edmonton area, employing 200 people. The acquisition of the fifth-generation family-owned construction materials company is expected to be completed by end of 2025, subject to regulatory approval, and will significantly expand Heidelberg Materials’ aggregates business in the attractive Edmonton market.

Stack Modular expands into Australia

Stack Modular is expanding into Australia, targeting the country’s ambitious housing goals driven by the Brisbane 2032 Olympic Games. With Australia facing a target of 1.2 million new homes by 2029 and a shortfall of 130,000 construction workers, the company sees significant opportunity in the growing prefab sector projected to reach USD 10.8B in 2025. Stack Modular brings 14+ countries of delivery experience and 120,000 sq. ft. of manufacturing capacity to support Olympic-scale growth with 30% faster construction timelines.

BGC Engineering opens Whitehorse office

BGC Engineering Inc. has opened a new office in Whitehorse, Yukon, marking the company’s expansion into northern Canada. Led by Aaron Weber, P.Eng., P.E., the office strengthens BGC’s commitment to northern communities and deepens local partnerships. The Whitehorse location will provide geotechnical expertise and support existing and new clients with critical applied earth science challenges in the region, bringing the company closer to projects they have previously supported from afar.

CRH buys Eco Material Technologies

CRH, a global building materials provider, announced it will acquire Eco Material Technologies, a leading North American supplier of supplementary cementitious materials, for $2.1 billion. The deal, expected to close in 2025 pending regulatory approval, secures long-term access to critical cementitious products, expands CRH’s distribution and innovation capabilities, and strengthens its position in modernizing North America’s infrastructure. Eco Material, based in Utah, processes and recycles millions of tons of fly ash, synthetic gypsum, and other materials annually, and will continue to operate under its name as part of CRH.

Kode takes over PG Ready Mix assets to launch concrete division

Kode Contracting Ltd. has acquired the assets of former PG Ready Mix, launching a new division called Kode Concrete. Operating from 666 N Nechako Rd, the expansion strengthens the company’s ability to serve communities and clients across Northern BC. As the company celebrates 60 years in business, this milestone reflects their continued commitment to integrity, reliability, and excellence in construction services.