Aecon Group acquires Bodell Construction Company

Executive Summary

• Aecon Group Inc. has acquired Bodell Construction Company, a privately owned industrial construction firm based in Salt Lake City, Utah.
• The acquisition is intended to strengthen Aecon’s core industrial capabilities, increase recurring revenue, and expand its footprint in key U.S. sectors, particularly in the Western and Southern United States.
• Bodell’s management team will remain in place to lead the business in partnership with Aecon’s industrial management team.

Key Details

• Transaction: Acquisition of Bodell Construction Company by Aecon Group Inc.
• Target Company: Bodell Construction Company, a privately owned, non-union industrial construction company.
• Target Headquarters: Salt Lake City, Utah.
• Target Employees: Approximately 150 employees.
• Target Specializations: Oil and gas, mining, water and wastewater, and power generation projects.
• Target Geographic Focus: Western and Southern United States.
• Strategic Rationale:
  • Strengthens core industrial capabilities.
  • Increases recurring revenue.
  • Positions Aecon for expansion in key U.S. sectors and target markets.
  • Diversifies self-perform offering across multidisciplinary sectors.
  • Enhances relationships with major U.S. clients.
• Management Structure: Bodell's management is committed to supporting Aecon's growth and will lead the business in partnership with Aecon's industrial management team.

Notable Quotes

• Jean-Louis Servranckx, CEO, Aecon: "This transaction strengthens our core industrial capabilities, increases recurring revenue and positions Aecon for expansion in key U.S. sectors and target markets... Bodell further diversifies our self-perform offering across multidisciplinary sectors and enhances our relationships with major U.S. clients for upcoming projects."
• John Singleton, Senior Vice-President, Industrial, Aecon: "We are pleased to welcome Bodell's experienced leadership team and employees to Aecon... We look forward to harnessing opportunities to scale Bodell's operations for growth across the Mountain states region while expanding across new geographic markets."
• Sean Davis, President and CEO, Bodell: "We are excited to accelerate our growth by leveraging new opportunities and offering expanded services to our clients as part of the world-class Aecon team... joining Aecon positions us to advance our role in delivering industrial construction projects while extending our footprint."