Aecon Group Inc. has agreed to acquire Lockerbie & Hole Inc. for approximately $220 million.

“We believe this is a unique opportunity for Aecon to secure a leading position in the mechanical/electrical and water/wastewater markets in Western Canada,” said Scott Balfour, president and CFO of Aecon, “and to further build on our strength in Western Canada’s industrial markets, including the ongoing maintenance requirements of existing oil sands infrastructure, all of which we believe have significant long term growth potential.”

“This transaction also brings significant opportunities to leverage the complementary skills and client relationships of both companies, including bringing Aecon’s civil and utilities capabilities to augment Lockerbie’s water/wastewater and mining operations, as well as applying Aecon’s power generation experience to Lockerbie’s market strength in the west,” Balfour said.

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