Aecon Group to acquire United Engineers & Constructors for US$33 million in cash - BNN Bloomberg

TORONTO — Aecon Group Inc. has signed an agreement to acquire U.S. company United Engineers & Constructors Inc. from CriticalPoint Capital LLC for $33 million in cash.

United is a nuclear and conventional energy contractor with customers in the United States and Canada.

It strategically focuses on extending the life of nuclear power plants and developing small modular reactors and power generation projects.

Aecon and United are joint venture partners performing steam generator replacement work and fuel duct and feeder replacement work at six units at the Bruce Nuclear Generating Station in Ontario.

The deal will see United’s management and operational teams join Aecon upon completion of the deal.

The deal is subject to customary adjustments and closing conditions, including regulatory approvals.

This report by The Canadian Press was first published Oct. 28, 2024.

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