Ontario Construction News staff writer
Calgary-based Graham Group of Companies says it will acquire the North American assets of global infrastructure consulting firm AECOM’s Energy Operations and Maintenance Division (EOM).
The purchase will immediately boost employee-owned Graham’s annual revenues by more than $550 million, making it Canada’s third largest construction company and one of North America’s top 50 largest construction companies, providing access to a 3,000-worker pool of skilled labour through allied subcontractors, the company said in a statement last Tuesday (Nov. 30).
“Post-acquisition, the company will be a leading player in the industrial services sector in Western Canada, creating opportunities for growth there, in Ontario and the U.S.,” the news release says.
The acquisition, subject to regulatory approvals expected to be completed by the end of January 2022, will significantly expand Graham’s capacity to provide maintenance, turnaround, fabrication and sustaining capital services for major energy, industrial and petrochemical companies in Western Canada, Ontario, and the U.S., Graham says.
“The acquisition of AECOM’s EOM Division is part of Graham’s strategic plan for expanding and diversifying our industrial operations across North America,” said Andy Trewick, Graham’s president and Chief Executive Officer. “It dramatically enhances our ability to provide one-stop services for major industrial clients, from initial construction through lifetime asset maintenance.”
The acquisition coincides with surging energy demand and economic growth as the world recovers from the 2020 pandemic recession. It also positions Graham to play a leading role, in partnership with large energy and petrochemical producers, in accelerating the transition to a lower carbon economy and advancing Canada’s national objective of Indigenous reconciliation through meaningful resource industry partnerships with Indigenous groups.
“Through more than nine decades in the construction business, Graham has a long and proud history of building industrial infrastructure – the mines, refineries, pipelines, petrochemical plants, power generation and hydroelectric facilities that have driven economic growth and prosperity across the continent,” said Cecil Dawe, executive vice-president of Graham’s Industrial Division.
“Graham was an early pioneer in building alternate energy infrastructure. The addition of the EOM Division expands our capability to build and maintain the energy and industrial infrastructure of the 21st century, building on Graham’s expertise delivering wind farms, LNG plants, biofuel refineries and carbon capture and storage facilities. Bringing in EOM’s operations and skilled workers to our team of allied subcontractors raises our game to a whole new level for our clients and our Indigenous partners, and firmly establishes our company as a leader in North American industrial construction and services.”