November 18, 2009

Seacliff Construction acquires Broda Construction

Seacliff Construction Corp. has reached an agreement to acquire Broda Construction Group, a Prince Albert, Sask.-based earth-moving and heavy civil construction company.

The deal, worth $50 million, will give Seacliff “a stronger presence in the civil construction industry and greater access to the institutional infrastructure sector, which is currently being fueled by substantial government investment and stimulus initiatives,” the company said in a news release.

This is the second acquisition Seacliff has made since its initial public offering in April 2008.

"From the outset, our long-term vision focused on growing Seacliff's business both organically and through acquisition, with a specific emphasis on expanding our presence in the civil construction industry," said Seacliff CEO Bill Crarer. "This purchase achieves that goal.”

It also speaks to the confidence Seacliff has in the Canadian economy, Crarer noted, particularly Saskatchewan, where there is “tremendous growth potential in uranium, potash, coal, diamonds, and the emerging oil and gas industry.”

Broda specializes in aggregate processing, earthwork, civil construction and concrete production.

The company’s customers include Canadian Pacific Railway, Canadian National Railway, Potash Corp. of Saskatchewan, Cameco and Agrium.

Broda Construction Group will continue to operate under its current name and organizational structure and will form a third, independently operated division of Seacliff.

Gord Broda, who has served 32 years with the company and has been its CEO since 1986, will “continue to lead that company. He will also have a significant ownership position in Seacliff,” Seacliff said in the news release.

-RCD Digital Media

Print | Email | Comment