SURREY, B.C. – Bird Construction announced on June 10 it is acquiring Surrey, B.C.-based Jacob Bros for $135 million.
Jacob Bros is a privately-owned civil infrastructure construction business with over 350 employees serving public and private clients, a Bird Construction release said.
Jacob Bros CEO Scott Jacob and COO Todd Jacob will join Bird to lead a combination of its western infrastructure business and their own existing business.
“The acquisition of Jacob Bros, a full-service infrastructure provider in B.C., represents a significant milestone in the evolution of our business, establishing a broader and more diversified operation. The company brings a strong market reputation, highly skilled team, and proven track record for delivering complex projects to sophisticated, long-term clients,” said Bird President and CEO Teri McKibbon in a statement.
Jacob Bros specializes in such projects as airports, seaports, rail, bridges and structures, earthworks, energy projects and utilities, the release said.
“Today is a momentous day for Jacob Bros as we become part of the Bird Construction team – one of Canada’s oldest and most respected brands in the construction industry,” Scott Jacob said. “Bird shares many of our core values and our cultural attributes and will be a great fit for our people and our clients. With access to Bird’s resources, we will be able to build on our success and accelerate our growth and capacity as one of Western Canada’s most respected builders of public and private infrastructure.”
The release highlighted the acquisition as adding civil infrastructure expertise to Bird as well as enhancing its core infrastructure vertical and expanding its scale and geographic reach.
Other than the assumption of equipment debt, Jacob Bros will be acquired on a cash-free, debt-free basis, the release said.
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