Aecon acquires The Karson Group (February 01, 2007)

TORONTO – Toronto-based Aecon Group has acquired The Karson Group, one of the largest aggregate, asphalt and civil construction companies in eastern Ontario. The Karson Group is a construction and materials company comprised of Karson Construction, Karson Asphalt Paving and Spratt Aggregates. It is the third largest company of its kind in the Ottawa/Eastern Ontario market, with annual revenues of $35 million to $50 million. The Karson Group’s assets include approximately 1000 acres of land, an asphalt plant, four limestone quarries, 7 owned/leased sand and gravel properties and 350 pieces of construction equipment.

The addition of The Karson Group’s aggregates operations will nearly triple Aecon’s total aggregate reserves, making Aecon one of Ontario’s five largest aggregate producers and three largest asphalt producers.

It will also provide Aecon with revenue increases through expanded service capabilities and increased efficiency through combined management, increased equipment utilization and fleet efficiency and improved purchasing power. The Karson Group’s 1000 acres of land in Ottawa’s west end will add potential for future real estate development opportunities.

Aecon Group is Canada’s largest publicly traded construction and infrastructure development company. Aecon and its subsidiaries provide services to private and public sector clients throughout Canada and internationally.

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