Design and Construction Report staff writer
Canadian-headquartered Aecon Group Inc. says it has entered into a definitive agreement to acquire United Engineers and Constructors Inc., based in Mount Laurel, New Jersey, from affiliates of CriticalPoint Capital, LLC for US$33 million.
United is a nuclear and conventional power contractor. It offers comprehensive engineering, planning, program, and construction management services to nuclear and conventional power clients in the United States and Canada.
The transaction is subject to customary adjustments and closing conditions, including regulatory approvals. Upon closing, United’s management and operational teams will join Aecon.
Aecon, with headquarters in Toronto, and United have a history of collaboration, currently acting as joint venture partners in steam generator replacement work and fuel channel and feeder replacements on six units at the Bruce Nuclear Generating Station in Ontario.
“United strengthens our relationships with existing clients, provides opportunities to develop new clients, adds engineering capability and capacity, and accelerates our ability to harness the robust nuclear opportunities across North America while driving continued growth in the U.S. and priority markets,” Jean-Louis Servranckx, president and CEO of Aecon Group Inc., said in a news release on Monday (Oct. 28).
“United’s strong technical expertise in digital instrumentation, control engineering and specialized construction will extend our self-perform offering and advance our continued diversification and growth with a strategic focus on the energy transition.”
“By joining Aecon, the United team becomes part of a world-class construction and infrastructure development company,” United’s president and CEO Art Lembo said in the statement.
“The combined capability brings experience and processes to deliver large-scale integrated engineering and construction projects across North America and internationally. United, with its diverse business base of consulting, engineering services and EPC clients developed over 100 years of service to the electric power industry, is positioned to continue its prominent role in delivering nuclear and power generation projects as part of the Aecon family.”
