Aecon enhances North American nuclear capability with agreement to acquire United Engineers & Constructors Inc.

TORONTO, Oct. 28, 2024 (GLOBE NEWSWIRE) -- Aecon Group Inc. (TSX: ARE) (“Aecon” or the “Company”) announced today that it has entered into a definitive purchase agreement to acquire United Engineers & Constructors Inc. (“United”), a nuclear and conventional power contractor headquartered in Mount Laurel, New Jersey, from affiliates of CriticalPoint Capital, LLC for a purchase price of US$33 million (the “Transaction”), payable in cash at closing. United’s management and operational teams will join Aecon upon closing of the Transaction, which is subject to customary adjustments and closing conditions, including obtaining all necessary regulatory approvals.  

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