Skip to main content

Bodell Construction joins Aecon

Written by Customer Service on . Posted in Mergers And Acquisitions.

Strengthens and expands Aecon’s Industrial footprint in the U.S.

TORONTO, Aug. 07, 2025 (GLOBE NEWSWIRE) — Aecon Group Inc. (TSX: ARE) (“Aecon” or the “Company”) announced today that it has acquired Bodell Construction Company (“Bodell”), an industrial construction company headquartered in Salt Lake City, Utah (the “Transaction”). Bodell’s management is committed to supporting Aecon’s growth in the United States and will lead the business in partnership with Aecon’s Industrial management team.

Founded in 1972, Bodell is a privately-owned, non-union industrial construction company with approximately 150 employees. Bodell specializes in oil and gas, mining, water and wastewater, and power generation projects across the Western and Southern U.S.

“This transaction strengthens our core industrial capabilities, increases recurring revenue, and positions Aecon for expansion in key U.S. sectors and target markets,” said Jean-Louis Servranckx, Chief Executive Officer, Aecon. “Bodell further diversifies our self-perform offering across multidisciplinary sectors and enhances our relationships with major U.S. clients for upcoming projects.”

“We are pleased to welcome Bodell’s experienced leadership team and employees to Aecon,” said John Singleton, Senior Vice President, Industrial, Aecon. “We look forward to harnessing opportunities to scale Bodell’s operations for growth across the Mountain States Region while expanding across new geographic markets.”

“We are excited to accelerate our growth by leveraging new opportunities and offering expanded services to our clients as part of the world-class Aecon team,” said Sean Davis, President and Chief Executive Officer, Bodell. “Bringing our diverse capabilities and strong client base developed over 50 years, joining Aecon positions us to advance our role in delivering industrial construction projects while extending our footprint.”

About Aecon

Aecon is a North American construction and infrastructure development company with global experience. Aecon delivers integrated solutions to private and public-sector clients through its Construction segment in the Civil, Urban Transportation, Nuclear, Utility, and Industrial sectors, and provides project development, financing, investment, management, and operations and maintenance services through its Concessions segment. Join our online community on X, LinkedIn, Facebook, and Instagram @AeconGroupInc.

About Bodell Construction

Bodell specializes in executing oil and gas, mining, water and wastewater, power generation, and commercial and institutional industrial construction projects in the United States. Headquartered in Salt Lake City, Utah, Bodell’s dedicated team delivers integrated services to meet the unique needs of private and public-sector clients, fostering a commitment to safety, quality, innovation and value-creation.

Statement on Forward-Looking Information

The information in this press release includes certain forward-looking statements which may constitute forward-looking information under applicable securities laws. These forward-looking statements are based on currently available competitive, financial and economic data and operating plans but are subject to risks and uncertainties. Forward-looking statements may include, without limitation, statements regarding the operations, business, financial condition, performance, prospects, ongoing objectives, strategies and outlook for Aecon, including statements regarding: the anticipated growth and acceleration of Aecon’s industrial business, the anticipated acceleration of Bodell’s operations, and Aecon’s expansion in the U.S. markets. Forward-looking statements may in some cases be identified by words such as “may,” “will,” “expects,” “target,” “anticipates,” “projects,” “should” or the negative of these terms, or similar expressions.

In addition to events beyond Aecon’s control, there are factors which could cause actual or future results, performance or achievements to differ materially from those expressed or inferred herein including, but not limited to: the risk of not being able to meet contractual schedules and other performance requirements, the risk the industrial market does not continue to grow as expected, the risk of not being able to capitalize on opportunities linked to the industrial sector, the risk of not being able to meet its labour needs, the risk of costs or difficulties related to the integration of Aecon and Bodell being greater than expected, the risk of the anticipated benefits and synergies from the acquisition not being fully realized or taking longer than expected to realize, the risk of not being able to grow and accelerate Bodell’s operations as expected, the risk of being unable to retain key personnel, including Bodell management, and the risk of being unable to maintain relationships with customers, suppliers or other business partners of Bodell. These forward-looking statements are based on a variety of factors and assumptions including, but not limited to that: none of the risks identified above materialize, there are no unforeseen changes to economic and market conditions and no significant events occur outside the ordinary course of business. These assumptions are based on information currently available to Aecon, including information obtained from third-party sources. While Aecon believes that such third-party sources are reliable sources of information, Aecon has not independently verified the information. Aecon has not ascertained the validity or accuracy of the underlying economic assumptions contained in such information from third-party sources and hereby disclaims any responsibility or liability whatsoever in respect of any information obtained from third-party sources.

Risk factors are discussed in greater detail in Section 13 – “Risk Factors” in Aecon’s 2024 Management’s Discussion and Analysis for the fiscal year ended December 31, 2024 and Aecon’s Management’s Discussion and Analysis for the fiscal quarter ended June 30, 2025, each filed on SEDAR+ (www.sedarplus.ca). Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Aecon undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

For further information:

Adam Borgatti
SVP, Corporate Development and Investor Relations
416-297-2600
ir@aecon.com

Nicole Court
Vice President, Corporate Affairs and Communications
416-297-2600
corpaffairs@aecon.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.