Graham to acquire AECOM industrial-service assets
January 18, 2022
The deal is subject to regulatory approvals expected to be completed by the end of this month.
Subject to regulatory approvals expected to be completed by the end of this month, the deal aims to 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.
“Diversifying our industrial operations dramatically enhances our ability to provide one-stop services for major clients, from initial construction through lifetime asset maintenance,” says Graham president and CEO Andy Trewick.
The acquisition of the Calgary-based division will boost Graham’s annual revenues by more than $550 million, making it Canada’s third-largest construction company. The deal coincides with surging energy demand, the transition to a lower-carbon economy and reconciliation through resource industry partnerships with Indigenous groups.
“Graham has a long history of building industrial infrastructure—mines, refineries, pipelines, petrochemical plants, power generation and hydroelectric facilities—and was an early pioneer in building alternate energy infrastructure,” says Cecil Dawe, executive vice-president (EVP) of the company’s industrial division. “The addition of this division builds on our expertise in delivering wind farms, liquid natural gas (LNG) plants, biofuel refineries and carbon capture and storage (CCS) facilities.”