Pomerleau to acquire assets and projects of Giffels Westpro
Pomerleau Inc., one of Canada’s builders in the institutional, industrial, commercial, infrastructure and civil works sectors, has signed an Asset Purchase Agreement to acquire most of the assets and projects of Giffels Westpro in Vancouver, Calgary, Toronto, Ottawa and Montreal. Giffels Westpro is owned by Ingenium.
Once this transaction is completed, Pomerleau will increase its project backlog by more than $200 million and ensure completion of coast-to-coast projects initially undertaken by Giffels Westpro.
“With this transaction, Pomerleau will be able to enter new markets in Central and Western Canada with greater force,” said Pomerleau president and CEO Pierre Pomerleau. “It is a milestone in our bid to strengthen our company’s national presence.”
Giffels and Westpro have reputations in sectors that complement Pomerleau’s areas of activity. In recent years, successfully completed Westpro projects include an energy centre for the City of Vancouver; an operations and maintenance centre for Canada Line, also in Vancouver; and the civil works for the Forrest Kerr hydroelectric project in northern British Columbia; while Giffels has successfully undertaken the FedEx facilities in Barrie, Vaughan and Markham, ON and a campus building addition at Sheridan Institute of Technology and Advanced Learning in Brampton, ON.
“By welcoming approximately 100 new colleagues, this acquisition will increase our geographic reach where Giffels Westpro is already a commanding player,” said Francis Pomerleau, president of Pomerleau’s Canadian Building Operations.
This transaction, the price of which will not be disclosed, is expected to close by June 22, 2016.