Business Moves: August

*Editor’s Note: Emails, video calls, regular calls, paperwork, site visits—most construction professionals don’t have hours to go through press releases and news articles detailing the latest business deal in the industry. But we do. Each month we distill all that information into a pure, concentrated product called Business Moves. 

WSP has agreed to acquire POWER Engineers, a U.S. consulting firm specializing in the power and energy sector, for $2.44 billion. WSP officials stated that the acquisition will position them at the forefront of the energy transition. Based in Hailey, Idaho, POWER has approximately 4,000 employees, including approximately 900 shareholders.

Flatiron and Dragados have announced plans to merge operations in North America, powering the two companies’ joint growth potential in the market. ACS Group and HOCHTIEF, the respective owners of Dragados and Flatiron, have agreed on key terms for the combination of the two companies, with ownership of the integrated company held 61.8% by ACS Group and 38.2% by HOCHTIEF. The company will be managed by Peter Davoren as chairman (in addition to his current role as chairman, CEO & resident of Turner) and the current CEO of Flatiron, Javier Sevilla, as CEO. The transaction closing is expected during the second half of 2024.

Arkansas-based Montrose Environmental has acquired Paragon Soil & Environmental Consulting. Headquartered in Edmonton, Paragon’s work spans across Western Canada, bolstering Montrose’s presence in the region while adding additional environmental expertise in select soil and reclamation services. The acquisition also includes Paragon’s active limited partnership, Paragon Infinity which is operated in conjunction with Infinity Métis Corp., a wholly owned Indigenous corporation with the McMurray Métis Local 1935 community in the Wood Buffalo region in northeast Alberta.

Paragon’s partnership with Infinity Métis Corp. is aligned with our commitment to Indigenous relations in the communities where we live and work. We look forward to future involvement with projects in Alberta that provide a material benefit for the local Indigenous community.

Vijay Manthripragada, President and Chief Executive Officer of Montrose Environmental Group

Boundary Electric has been acquired by SABRE and Ampere Alliance. Boundary has 77 years of experience in electrical integration and manufacturing. With offices in Grand Forks and Trail, B.C., Boundary is known for its expertise in supplying low, medium, and high voltage transformers, designing unitized substations and switchgear, and providing advanced solutions for Crypto and AI data centers.

This strategic acquisition, which adds to Ampere Alliance’s existing portfolio of SABRE and Summit Electric, strengthens our capabilities in the data center and high voltage sectors, reinforcing our commitment to driving the green energy transition and meeting the evolving needs of the High Power Computing industry.

SABRE

Vancouver-based Mercer International Inc., a market pulp and solid wood products company, has expanded its reach into the mass timber industry with the launch of a new installation division under its U.S. subsidiary, Mercer Mass Timber LLC. The new division, Mercer Mass Timber Construction Services, based in Spokane Valley, Washington, offers on-site installation and project consulting to support clients transitioning to mass timber construction.

ACCIONA has acquired Darby International Capital’s high-voltage transmission line business in Peru for €220 million, strengthening its position in Latin America. The acquisition includes over 1,200 kilometres of transmission lines and 30 substations, as well as the 30-year concession project “Machupicchu-Quencoro-Onocora-Tintaya,” which will enhance electricity connectivity in southern Peru by 2028.

EllisDon has announced the addition of a new Technology Ecosystem Strategic Partner, Crewscope. The productivity application aligns hourly incentives with project outcomes to increase employee engagement. This announcement follows recent additions of both StruxHub and Touchplan to cement EllisDon’s long-term technology strategy, led by the Data & Digital Engineering Division.

NEXII Inc. has completed the acquisition of Nexii Building Solutions’ assets setting the stage for the relaunch of NEXII’s products. NEXII specializes in precision-manufactured structural wall and roof panel systems for the building industry, addressing rising construction costs, the demand for shorter schedules, and the need for a reduced carbon footprint. 

Alberta-based energy company, Pieridae Energy Ltd., has sold its assets on Nova Scotia’s Eastern Shore, where it had once planned to build a natural gas export facility, to an Irish company interested in pursuing a renewable energy project. The $12-million sale includes 108 hectares of coastal property in Goldboro, Guysborough County, along with a construction permit granted by the Nova Scotia Utility and Review Board, which approved the permit’s transfer earlier this month. Pieridae had spent over a decade working on plans to develop a natural gas liquefaction plant to pipe in gas from across North America before reconsidering the project last year.

Global diversified professional services and investment management company, Colliers has acquired Englobe Corporation, a multi-discipline engineering, environmental and inspection services firm for US$475 million. Englobe’s senior leadership team and employee shareholders will remain shareholders in the business under Colliers’ unique partnership model. Headquartered in Laval, Que., Englobe’s 2,800 professionals provide civil, buildings, geotechnical, and environmental engineering, material testing and related consulting services to public and private sector clients primarily in the transportation, water, buildings, and power end markets.

TC Energy Corporation has announced an equity interest purchase agreement with an Indigenous-owned investment partnership for a minority equity interest of 5.34% in the NGTL System and the Foothills Pipeline assets for a gross purchase price of $1 billion. This partnership will enable up to 72 Indigenous Communities closest to the partnership assets to become equity owners in the 25,000-kilometre highly integrated network of natural gas infrastructure assets spanning western Canada.

Cloverdale Paint has a new exclusive distribution agreement with Tnemec Company, Inc., a 100 year-old manufacturer of heavy duty industrial coatings for oil & gas, chemical, petrochemical, water & wastewater treatment, water storage, industrial process, resinous flooring, and high performance architectural metal and masonry. Cloverdale will have exclusive distribution rights for B.C., Alberta, Saskatchewan, Manitoba, Yukon and North West Territories. 

We are excited to be expanding our product range and customer reach with this new partnership.  Tnemec is a company we have known and respected for years and this is an excellent fit for our business and our customers

Tim Vogel, Chairman and CEO of Cloverdale Paint

Full-service technology consulting firm SiteTechnology has officially launched to serve the industrial sector. The firm is focused on building long-term partnerships with clients, helping them identify and implement technology solutions that make a real difference to their bottom-line. If you are interested in learning more about SiteTechnology and starting your digital journey, visit SiteTechnology.com

Turner Construction Company has agreed to acquire 100% of Dornan Engineering Group, a specialist mechanical, electrical, instrumentation and commissioning engineering contractor with operations in Ireland, the UK, Continental Europe, and the Nordics. Dornan delivers services on complex large-scale projects for blue-chip clients in the advanced technology sector, including data centers and biopharma facilities.

WZMH Architects has launched of Giraffe, an independently owned software company dedicated to revolutionizing the architectural-engineering-construction sectors. Although Giraffe draws on WZMH’s extensive industry expertise, it operates as a separate entity with its own software suite designed to enhance efficiency, sustainability, and collaboration in building design and construction.

Giraffe isn’t just about envisioning the future; we’re building it with solutions born from deep industry understanding and not just IT expertise. With the DNA of Giraffe rooted in WZMH Architects, we bring over 60 years of experience, more than 250 million square feet of designed and constructed buildings, and over 10 million hours of IP production and expertise.

Giraffe

Darabase Canada, a technology company specializing in immersive media for the spatial web, has forged a strategic partnership with Venturon Ltd., a Canadian-owned investment group focused on real estate technology start-ups. With the rise of augmented reality (AR) enabled devices and advances in the spatial web, the two companies will collaborate to unlock new value for property owners across Venturon’s client and partner network.

Ontario-based Algonquin Power & Utilities Corp has agreed to sell its renewable energy business, excluding its hydropower assets, to developer and independent power producer LS Power for up to US$2.5 billion.

Calgary’s Carbon Upcycling, a decarbonization and carbon capture & utilization technology provider for hard-to-abate industries, has achieved B Corporation certification by the B Lab. The prestigious recognition underscores Carbon Upcycling’s ongoing commitment to meeting rigorous standards of social and environmental performance, transparency and accountability and deep commitment to being a powerful force for good.