Business
Bird to Acquire Canada's Largest Marine Infrastructure, Land Foundation and Dredging Company for $82.3 Million; Catalyst for Future Growth
TRANSACTION HIGHLIGHTS Builds on Bird’s significant national Infrastructure presen...
About this update from Bird Construction Inc.
[{"type":"text","content":"Bird to Acquire Canada’s Largest Marine Infrastructure, Land Foundation and Dredging Company for $82.3 Million; Catalyst for Future Growth\n\n\n\n\n TRANSACTION HIGHLIGHTS\n \n\n\n\n Builds on Bird’s significant national Infrastructure presence, adding national marine construction and land foundation self-perform capabilities.\n \n\n Expected to enhance Bird’s Adjusted EBITDA Margins through focus on complex, specialized projects and self-perform work.\n \n\n Supports value creation through anticipated 7% Adjusted EPS accretion on full-year basis with potential for further growth and margin expansion from cross-selling opportunities and other synergies.\n \n\n Implied purchase multiple of 4.1x FRPD’s projected full year 2025 Adjusted EBITDA based on an estimated purchase price of $82.3 million, exclusive of future synergies.\n \n\n\n MISSISSAUGA, Ontario, Sept. 03, 2025 (GLOBE NEWSWIRE) -- Bird Construction Inc. (TSX: BDT) (“Bird” or “the Company”) announced today that it has entered into a definitive share purchase agreement (the “Agreement”) under which Bird will acquire Fraser River Pile & Dredge (“FRPD”) for estimated aggregate consideration of $82.3 million (the “Transaction”). The Transaction, pending relevant regulatory approvals and the satisfaction of other customary closing conditions, is expected to be completed early in the fourth quarter of 2025.\n \n\n Headquartered in New Westminster, BC, FRPD is Canada’s oldest and largest privately-owned marine construction, land foundation and dredging company with substantial self-perform capabilities. Founded in 1911, FRPD’s experienced workforce of over 300 salaried, hourly and craft personnel have earned a reputation for safety and high quality work while delivering some of the largest construction projects in Western Canada. FRPD’s construction and dredging experience also extends across Canada, with projects ranging from infrastructure support in the North, to dredging and port expansion in Churchill and the St. Lawrence Seaway, and marine environmental remediation in Hamilton Harbour. FRPD maintains a versatile marine and land construction equipment fleet, and has a specialized construction skillset that is well suited to Canada’s growing dema...