Business Moves: October 2026

Gillfor Manufacturing acquires Teal Jones Group Operations

Gillfor Manufacturing has completed its acquisition of Teal Jones Group’s operations, a strategic transaction aimed at bolstering its manufacturing capacity and securing major timber and production assets. The deal reinforces Gillfor’s long-term position in the forest products industry while providing a significant economic boost to the forestry sector across Coastal British Columbia.

Peakhill Capital launches $750M lending pool

Peakhill Capital has introduced Everest, a dedicated capital pool backed by an initial $750 million institutional commitment designed to fund CMHC-insured, purpose-built rental construction projects with loans ranging from $4 million to $200 million. Providing the capacity to originate an additional $2 billion annually, the platform aims to elevate Peakhill’s total CMHC construction financing to roughly $3 billion per year (representing about 8,000 rental units), with approximately $450 million already closed year-to-date.

TERAPRO Construction Expands Heavy Equipment Footprint into Waterloo Region

Canadian family-owned dealership network TERAPRO Construction is expanding its Ontario presence by establishing a new facility in the Waterloo Region to supply CASE heavy equipment, replacement parts, and local support. The branch is set up to serve contractors, fleet managers, and municipalities across Southwestern Ontario to help streamline machinery costs and reduce jobsite downtime.

Canada Nickel, Swiss Steel Group sign low-carbon supply agreement

Canada Nickel Company and Switzerland’s Swiss Steel Group have established a framework agreement under which Canada Nickel will supply one million tonnes of low-carbon, semi-finished steel billets and blooms annually starting in 2030. Sourced from the Crawford Nickel project in Timmins-Cochrane and processed through subsidiary NetZero Metals, the supply arrangement supports decarbonization across European and North American steel mills while helping advance the Crawford asset toward a planned 2027 construction decision.

DP world selects Arcadis–Egis JV for Contrecœur Terminal work

DP World has selected an engineering joint venture between Arcadis and Egis—supported by subconsultant Moffatt & Nichol—as the Operator’s Engineer for the Contrecœur Container Terminal expansion at the Port of Montréal. Supported by $1.16 billion from the Canada Infrastructure Bank, the terminal project will expand the port’s container capacity by 60 percent, with the JV handling the complete design and engineering of landside operations including container yards, rail yards, utilities, primary operational buildings, and gate infrastructure ahead of a projected 2030 completion.

Aecon completes $320M buyout of Aecon Utilities

Aecon Group Inc. has closed its previously announced transaction to acquire all outstanding Preferred Shares of Aecon Utilities for $320 million in cash. Fully funded from the company’s existing cash on hand, the buyout consolidates full ownership of its utilities arm as the North American construction and infrastructure firm continues to deliver integrated civil, urban transportation, nuclear, utility, and concessions projects across the public and private sectors.

Membertou to Acquire A.W. Leil Cranes & Equipment

Atlantic Canadian crane rental and heavy-lift provider A.W. Leil Cranes & Equipment has finalized an agreement to be acquired by the Membertou Development Corporation, moving forward from its prior partnership with SeaFort Capital Inc. Under the new ownership structure, A.W. Leil’s existing management team and workforce will remain in place to maintain operations across specialized transportation, crane services, and equipment rentals throughout Atlantic Canada.

Limen Group acquires civil, demolition Assets of YORK1

Limen Group of Companies has closed an asset acquisition covering four key business units of YORK1—encompassing construction services, excavating, demolition, and equipment operations. The transaction incorporates YORK1’s heavy civil capabilities (including earthworks, watermain, and stormwater management) and decommissioning services (ranging from environmental abatement to structural demolition) into Limen’s core portfolio, positioning the company to execute larger, comprehensive, end-to-end infrastructure contracts.

Hoylu rolls out visual construction planning platform upgrade

AEC visual planning software provider Hoylu has launched a new platform release designed to bridge the operational gap between field lookaheads and master scheduling tools like Oracle Primavera P6 and Procore. Featuring new XER schedule import tools and master alignment capabilities, the update provides project teams with a single live visual layer that synchronizes daily site execution with executive-level milestones to reduce rework and streamline planning meetings.

Stardust Solar expands into Manitoba

Stardust Solar Energy Inc. has expanded its Canadian footprint by launching a province-wide franchise in Manitoba in partnership with the leadership of Southside Electric Ltd., a 45-year-old local electrical contractor. Operating across major centres including Winnipeg, Brandon, and Steinbach, the new entity aims to deliver residential, commercial, and agricultural solar PV and battery storage systems, leveraging local utility rate increases alongside provincial and federal clean energy tax incentives.

Bespoke Metrics and Procore Launch Prequal for All

Bespoke Metrics and Procore Technologies have expanded their partnership by naming COMPASS the preferred subcontractor prequalification solution across the Procore platform via a program called “Prequal for All.” Connecting through the Model Context Protocol (MCP), the setup allows subcontractors to maintain a single standardized risk profile while feeding their COMPASS Q Score and prequalification ratings directly into Procore bidding workflows, with an agentic AI COMPASS Risk Agent slated to launch later in the year.

First Nations and TCG Form Mino-Ayaawin Asin GP

Atikameksheng Anishnawbek and Wahnapitae First Nation, alongside their respective economic development corporations and Thompson Construction Group, have established Mino-Ayaawin Asin GP Inc. to pursue civil construction, environmental remediation, and major industrial projects across their traditional territories. The Sudbury-based partnership pairs Thompson’s large-scale project execution and heavy construction capabilities with local First Nations leadership, prioritizing long-term Indigenous capacity building, local procurement, and regional employment opportunities.

Consortium invests $4.33B in LNG Canada Stake

A consortium led by Blackstone Credit & Insurance alongside four major Canadian institutional investors—CPP Investments, OMERS, IMCO, and PSP Investments—has agreed to invest $4.33 billion to acquire a 49.9% non-controlling interest in the Mitsubishi Corporation subsidiary that holds a stake in LNG Canada. Located in Kitimat, British Columbia, the export terminal is preparing for an operational Phase 2 expansion that will double its total capacity to 28 million tonnes per year, while Mitsubishi retains operational control and its full existing LNG offtake entitlements.

First Nation acquires majority stake in Paradigm Group

Simpcw Resources Group, the economic development arm of the Simpcw First Nation, has purchased a majority stake in the Paradigm Group of Companies to combine timber harvesting operations with precision off-site prefabrication manufacturing. The transaction embeds Paradigm’s high-efficiency, climate-resilient building panel systems directly into Simpcw’s regional wood products supply chain, scaling local prefabrication capacity while generating skilled employment and housing solutions across south-central British Columbia.

GHD Acquires Quebec Building Engineering Firm ÉQIP Solutions Experts-Conseils

GHD has acquired ÉQIP Solutions Experts-Conseils, a Quebec-based engineering firm with offices in Lévis and Saint-Georges, integrating approximately 50 engineers, technicians, and support staff specializing in structural, mechanical, electrical, and civil disciplines. Founded in 2013 with a track record of more than 4,000 completed projects across commercial, healthcare, and industrial builds, ÉQIP’s integration expands GHD’s geographic footprint in Quebec while enhancing its capacity to target large-scale institutional, defence, industrial, and energy contracts across Eastern Canada.