Graham acquisition aims to create Western Canada's largest industrial services company
The acquisition, subject to regulatory approvals expected to be completed by the end of January 2022, will significantly expand Graham's capacity to provide maintenance, turnaround, fabrication and sustaining capital services for major energy, industrial and petrochemical companies in Western Canada, Ontario, and the U.S.
"The acquisition of AECOM's EOM Division is part of Graham's strategic plan for expanding and diversifying our industrial operations across North America," said Andy Trewick, Graham's President and Chief Executive Officer. "It dramatically enhances our ability to provide one-stop services for major industrial clients, from initial construction through lifetime asset maintenance."
Acquiring AECOM's EOM Division will immediately boost employee-owned Graham's annual revenues by more than $550 million, making it Canada's third largest construction company and one of North America's top 50 largest construction companies, according to Graham.
The acquisition coincides with surging energy demand and economic growth as the world recovers from the 2020 pandemic recession. It also positions Graham to play a leading role, in partnership with large energy and petrochemical producers, in accelerating the transition to a lower carbon economy and advancing Canada's national objective of Indigenous reconciliation through meaningful resource industry partnerships with Indigenous groups.