Aecon Expands with Ainsworth Power Construction Acquisition

Aecon Group Inc., through its subsidiary Aecon Utilities Group Inc., has acquired Ainsworth Power Construction (APC) from GDI Integrated Facility Services, marking a significant expansion of its electrical services and power systems capabilities. APC, which specializes in providing comprehensive electrical services and has a longstanding presence in the industry, will integrate with Aecon Utilities under a transaction financed by Aecon Utilities' standalone committed revolving credit facility. This acquisition adds APC's 80 employees, a majority of whose work is under recurring long-term Master Service Agreements, to Aecon Utilities, enhancing Aecon's utility infrastructure portfolio and expanding its market share in Ontario. The move strengthens Aecon's collaborative efforts with key clients and its capacity to deliver a scalable utility solution in response to energy transition opportunities. Additional strategic partnership support comes from Oaktree Capital Management, which has invested in Aecon Utilities via convertible preferred equity. The acquisition underscores Aecon's commitment to growth and capitalizes on the integration of APC’s experienced teams to leverage synergies and improve competitiveness in the market.