Business Moves: February 2025

Canada’s construction sector is seeing major shifts this month, from high-profile acquisitions and strategic partnerships to groundbreaking sustainability initiatives. Quikrete’s $11.5 billion purchase of Summit Holdings signals a major consolidation in the building materials market, while WSP and Microsoft’s $1 billion collaboration aims to modernize the industry with AI-driven solutions. From corporate expansions to renewable energy investments, these developments highlight the industry’s ongoing transformation and commitment to innovation. Here’s what you need to know:

Northstar Clean Technologies expands

Northstar Clean Technologies has taken a major step in scaling its asphalt shingle reprocessing operations by signing a non-binding letter of intent with YORK1 Environmental Waste Solutions. The agreement sets the stage for a strategic alliance that will supply Northstar’s planned Empower Hamilton Facility in southwestern Ontario with up to 10,000 tonnes of waste shingles annually, with potential for increased volumes over time. The collaboration not only strengthens Northstar’s position in sustainable construction materials but also aligns with YORK1’s commitment to environmental innovation. A definitive agreement is expected by mid-2025.

Quikrete completes $11.5 Billion acquisition

Quikrete Holdings, Inc., a leading North American building materials company, has finalized its $11.5 billion acquisition of Summit Holdings, Inc., a top producer of aggregates and cement. The transaction, which includes debt, marks a major expansion of Quikrete’s infrastructure and commercial market footprint across the U.S. and Canada. To finance the deal, Quikrete secured $3.95 billion in term loans, a $1.5 billion revolving credit facility, and a $5.45 billion bond issuance, with legal counsel provided by Troutman Pepper Locke.

Assembly buys Swedish robotic manufacturing line

Assembly Corp., a Canadian mass timber construction company, is accelerating its operations by acquiring a robotic manufacturing line from Swedish company Lindbäcks Group, which produces factory-built housing and components. The machinery, currently stored in Sweden, will be shipped to a new Toronto-area factory slated for 2026, where it will enable the pre-fabrication of panels and other components for midrise wooden buildings.

Through off-site construction in a state-of-the art factory with detailed control of quality and security, Lindbäcks is able to deliver beautiful buildings that drastically reduce development schedules, costs, and environmental footprint, on a scale that is unmatched globally. We are very excited to bring both this equipment and expertise to Canada.

Geoff Cape, CEO, Assembly Corp

Lafarge Canada expands partnership with Lithium Universe

Lafarge Canada has signed a memorandum of understanding with Lithium Universe to further their collaboration on sustainable cement production. Under the agreement, Lithium Universe will supply Aluminosilicate Secondary Product (ASCR) from its Bécancour Lithium Refinery, a material that enhances cement strength while reducing costs. The companies plan to finalize a definitive supply and purchase agreement, reinforcing Lafarge’s commitment to greener construction materials. With Canada’s cement and concrete industry reaching $12.3 billion in revenue in 2025, this partnership aims to strengthen local supply chains and advance circular economy initiatives in Québec’s

Indigenous-owned hemp block plant launches

A groundbreaking new manufacturing facility in Elk Point, Alberta, is set to revolutionize sustainable construction with lightweight, fire- and mould-resistant building blocks made from hemp and other fibres. The company, Asinikahtamwak—meaning “works with rock” in Cree—is a joint venture with Frog Lake First Nations (51% ownership), Natural Fibre Technologies (39%), and the Town of Elk Point (10%). The plant, which opened in 2024, currently produces 250 blocks per day, with plans to scale up to 1,000. Already constructing a prototype home for Frog Lake First Nations, Asinikahtamwak is also exploring applications for greenhouses and cabins.

WSP and Microsoft sign $1B Partnership

WSP Global Inc. and Microsoft Corp. have announced a groundbreaking seven-year strategic partnership, exceeding $1 billion in combined investment, to accelerate digital transformation in the Architecture, Engineering, and Construction (AEC) industry. WSP will designate Microsoft as its preferred partner for AI and digital services, expanding Microsoft 365 Copilot globally, while Microsoft will turn to WSP for engineering and science consultancy. The collaboration aims to leverage AI, data, and digital tools to modernize asset lifecycles, speed up mission-critical infrastructure projects, and unlock new design paradigms—positioning both companies at the forefront of industry innovation.

This collaboration will allow us to push the boundaries of what’s possible, ensuring we stay at the forefront of technological advancements and consistently provide exceptional value to our people and clients.

Alexandre L’Heureux, President and CEO, WSP

SitePartners acquires Kelowna-based marketing firm

SitePartners has acquired BlackBean Marketing, an industrial marketing firm based in Kelowna, enhancing its capabilities and expanding its service offerings. This acquisition strengthens SitePartners’ commitment to delivering results-driven marketing solutions tailored to industrial businesses. BlackBean’s expertise in content strategy, SEO, lead generation, web design, and tactical marketing complements SitePartners’ specialized knowledge in the industrial and B2B sectors. With a new office in Kelowna, the company is now better equipped to serve clients across the B.C. Interior and beyond.

We are excited to welcome new talent to our team, expand our service offerings, and strengthen our market reach with a new office in Kelowna. The expertise and industry knowledge that the BlackBean team brings will allow us to create even more value for our clients in the industrial sector.

Andrew Hansen, CEO of Site

Willow Lake Métis Group and Earth & Iron forge partnership

Willow Lake Métis Group (WLMG) has entered a strategic partnership with Earth & Iron Inc. to enhance construction readiness and economic development in the Métis community. Focused on site preparation, pad work, and infrastructure projects, the collaboration strengthens WLMG’s ability to manage projects from inception to completion. While initially targeting oil and gas, the partnership also extends to forestry and road clearing. Additionally, WLMG is pursuing renewable energy investments and an Indigenous ESG framework, supported by a $480,000 federal grant. The initiative aligns with the Nation’s long-term strategy to drive sustainability and prosperity.

This alliance will enable us to undertake larger projects, create employment opportunities, and contribute to the prosperity of our community

Andy Harnett, CEO, Willow Lake Métis Group

Cooper Equipment Rentals expands national presence

Cooper Equipment Rentals has expanded its presence in Canada with the acquisitions of Rent All Centre (RAC), Skyhigh Platforms in Ontario, and Big Stick Rentals in Alberta. These additions strengthen Cooper’s position as the country’s only truly national independent rental provider, enhancing coverage in both Eastern and Western Canada. RAC and Skyhigh, established in 1973, add six full-service rental locations and an aerial specialty branch, expanding service in Peterborough and the 401 corridor. Big Stick Rentals, a key player in Grande Prairie since 2013, extends Cooper’s reach in Northern Alberta.

 At Cooper, we don’t just grow for the sake of growth – we expand with purpose. Bringing these respected businesses into the Cooper family means we’re strengthening our service, growing our footprint, and staying true to what matters most: delivering the best rental experience in the industry.

Doug Dougherty, CEO, Cooper

Northstar buys Ontario-based Altitude Equipment

Northstar Access has acquired Altitude Equipment, a prominent swing stage rental, sales, and service provider in Southern Ontario. This acquisition strengthens Northstar’s swing stage capabilities, increasing its Toronto inventory to over 225 units, including Tractel/Tirak hoists and Winsafe stages. It also marks Northstar’s second major recent expansion, following its integration of Access Rigging in Ottawa earlier this year. CEO Paul Zvonar welcomed Altitude’s team, emphasizing their shared commitment to excellence, while Altitude Co-Founder Mike Van Volsen highlighted the partnership’s potential to expand services and enhance customer offerings.

Brookfield buys U.S. renewables business for $1.7B

Britain’s National Grid has agreed to sell its U.S. onshore renewables business to Canada’s Brookfield Asset Management for $1.74 billion, including debt, as part of its strategy to refocus on energy networks. The deal, expected to close by March 2026 pending regulatory approval, includes National Grid Renewables’ 1.8 GW of operational capacity and 1.3 GW under construction.

ATACO launches Viva Homes with Calgary project

ATCO is launching Viva Homes, a new residential development initiative aimed at addressing Canada’s housing crisis through modular construction. Leveraging decades of experience in modular structures, ATCO says it has developed a quick-to-market model where homes are built indoors, then transported and placed as fully serviced, permanent residences. This approach allows for faster delivery of homes without sacrificing quality, with the first prototype completed in just eight weeks. Viva Homes is designed for urban settings, with plans to build 1,000 units over the next five years, starting with a large project in Calgary.

Novarc partners with Miller Electric on welding tech

Miller Electric and Novarc Technologies have announced a strategic partnership to revolutionize the welding industry with AI-powered automation. Their collaboration will drive advancements in adaptive welding solutions through the Miller Copilot line, addressing skilled labor shortages and enhancing welding precision for industries like shipbuilding, construction, and heavy equipment manufacturing. By integrating AI with automation, the partnership aims to improve productivity, quality, and accessibility of robotic welding, enabling the automation of previously unfeasible tasks.

Munro president creates durable glass solution

Colleen Munro, President of The Munro Group of companies, faced the ongoing challenge of escalating costs and lost resources due to broken glass from intrusions and vandalism. To solve this, she partnered with ClearSecure to create Rockglass, a glass product offering enhanced security and noise mitigation. Rockglass is a nearly invisible, durable solution that can be installed on new or existing windows, reducing the need for frequent repairs and insurance claims. As demand grows, ClearSecure has expanded its manufacturing capacity.

GFL set to repurchase own shares following $6.2B sale

Following the $6.2-billion sale of its environmental services division, GFL is preparing to resume its aggressive acquisition strategy after an 18-month focus on debt reduction. CFO Luke Pelosi stated that the company now has the financial flexibility to pursue mergers and acquisitions without significantly impacting leverage, as it plans to fund deals through annual cash flows. GFL is also using $2.25 billion from the sale for share buybacks, including purchases from long-term investors like BC Partners and Ontario Teachers’ Pension Plan, the latter of which has stepped down from the board as its stake declines. CEO Patrick Dovigi also acknowledged the company is exploring a potential U.S. redomiciling but remains focused on maintaining its Canadian presence, particularly as it nears eligibility for the S&P/TSX 60 index.

Innergex to be acquired by CDPQ

Innergex Renewable Energy Inc. (TSX: INE) has entered into a definitive agreement for CDPQ to acquire all outstanding common and preferred shares of the company, excluding those held by certain executives, for $13.75 and $25.00 per share in cash, respectively. The transaction, subject to shareholder and regulatory approvals, will transition Innergex from a publicly traded to a privately held company under CDPQ’s ownership. CDPQ plans to syndicate up to 20% of its investment to like-minded investors. Innergex leadership views the move as a strategic opportunity to enhance long-term growth, stability, and its commitment to renewable energy and partnerships with Indigenous and local communities.

Hydron Energy recieves bridge funding support from Modern Niagara

Hydron Energy Inc. has secured additional bridge financing from its strategic partner, Modern Niagara Group Inc., to support its manufacturing needs ahead of a Series A investment. Hydron’s INTRUPTor technology, a gas separation and upgrading platform, enables cost-effective renewable natural gas (RNG) production from waste sources while reducing capital and operating costs by up to 50% and cutting greenhouse gas emissions by 85%. Modern Niagara sees further potential for the technology in on-site oxygen production for hospitals and other industrial applications, highlighting its broader impact beyond RNG.

GFL environmental adds support for soil reuse app

Phil, a free excess soil reuse marketplace and load-tracking app, is now supported at GFL Environmental receiving sites in Ontario. Phil Co-Founder Bryan Kerr explained that users can find the appropriate contact information on each GFL listing, or simply chat or call to get started. He added that this means Phil is giving companies an absolutely free method to comply with soil regulations and track their material to the largest permitted site operator. GFL is the only major diversified environmental services company in North America offering services in solid waste management, liquid waste management, and soil remediation.