Aecon Group Inc. has acquired GCCL Contracting Ltd., an Orangeville, Ont.-based asphalt, paving and construction company
Aecon Group Inc. has acquired GCCL Contracting Ltd., an Orangeville, Ont.-based asphalt, paving and construction company
GCCL, a wholly-owned subsidiary of the Greenwood group of companies, has traditionally focused on hot-mix paving.
“Opportunities exist to expand into other areas of the roadbuilding business such as sanitary sewer installations and watermain work,” the company said in a news release.
In recent years, GCCL has generated revenues of approximately $10 million.
“The acquisition provides augmented opportunities through partnerships for other Aecon business units such as Aecon Construction and Materials Ltd (ACML), Aecon Utilities, and Aecon Materials Engineering (AME),” the company said.
Under the share purchase deal, Aecon will pay approximately $4.4 million, of which approximately $2 million will be paid over a four-year term.
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