Aecon Utilities agrees to acquire high-voltage testing, commissioning and metering solutions contractor KPC

Executive Summary

• Aecon Utilities Group Inc. entered into a definitive share purchase agreement to acquire K.P.C. Power Electrical Ltd. and K.P.C. Energy Metering Solutions Ltd. (“KPC”).
• The transaction will be financed through Aecon Utilities’ standalone committed revolving credit facility and is expected to close in Q4 2025, subject to customary conditions.
• Acquisition expands Aecon’s utility‑service capabilities, adds ~100 employees, and is positioned to increase recurring revenue and support grid‑modernization opportunities.

Key Details

• Target Companies: K.P.C. Power Electrical Ltd. (high‑voltage testing & commissioning) and K.P.C. Energy Metering Solutions Ltd. (meter installation, testing, compliance).
• Seller Structure: Privately‑owned companies collectively employing ~100 staff, primarily serving Ontario distribution utilities.
• Purchase Price / Consideration: Not disclosed; transaction to be funded via Aecon Utilities’ revolving credit facility.
• Financing: Standalone committed revolving credit facility of Aecon Utilities (terms not specified).
• Closing Timeline: Expected in the fourth quarter of 2025, subject to customary closing conditions.
• Management Continuity: Existing KPC management and operational teams will remain post‑closing.
• Strategic Rationale (CEO Quote): “The acquisition of KPC strengthens our relationships with key clients, increases recurring revenue, expands our expertise and capacity, and accelerates our ability to harness significant grid modernization, electrification and infrastructure upgrade opportunities.” – Jean‑Louis Servranckx, President & CEO, Aecon Group Inc.
• Strategic Rationale (EVP Quote): “Together with our strategic partner Oaktree, we look forward to welcoming the KPC team… unlocking growth opportunities with existing and new utility clients.” – Eric MacDonald, EVP, Aecon Utilities.

Notable Quotes

• “The acquisition of KPC strengthens our relationships with key clients, increases recurring revenue, expands our expertise and capacity, and accelerates our ability to harness significant grid modernization, electrification and infrastructure upgrade opportunities.” – Jean‑Louis Servranckx, President & CEO, Aecon Group Inc.
• “Together with our strategic partner Oaktree, we look forward to welcoming the KPC team to the Aecon Utilities group of companies… unlocking growth opportunities with existing and new utility clients.” – Eric MacDonald, Executive Vice President, Aecon Utilities.