CDPQ Increases Its Investment in Canadian Construction Leader Pomerleau
News
Montreal, March 1, 2023 — Poised to pursue its growth in Canada, Pomerleau is writing a new chapter in its history. Together with the Board of Directors, Pierre and Francis Pomerleau today announce the appointment of Philippe Adam as the company’s President and Chief Executive Officer. He will take up his new duties in August 2023.
This appointment launches a transition process during which Pierre and Francis Pomerleau will gradually withdraw from their operational roles. In addition to remaining the company’s principal shareholders, they will continue to play an active role on the Board, with Pierre serving as Executive Chair of the Board and Francis as Director of the Board.
Philippe Adam joined Pomerleau in 2021 as Executive Vice-President and Chief Financial Officer. As part of his duties, he is also President of Pomerleau Capital, the company’s private investment fund specializing in infrastructure and renewable energies. In addition, he is in charge of various key functions, including corporate strategy, logistics and procurement, legal affairs, insurance, and risk management.
Guided by our core values of authenticity, excellence, adaptability, innovation and love, Philippe has played a transformative role in our overall performance and helped to fast-track our transformation in support of coast-to-coast growth. In addition, he has spearheaded two of the largest transactions in the company’s history, including the acquisition of Vancouver-based ITC Construction Group and the Caisse de dépôt et placement du Québec’s $150-million investment in Pomerleau, its third in five years.
“The role and nature of our business has evolved. Today, Pomerleau is much more than a construction firm,” said Pierre Pomerleau, the company’s CEO. “Our ability to structure alternative models of delivery and financing allows us to tackle a wide range of increasingly complex projects with a sustainable development perspective. In light of the experience and leadership provided by Philippe since his arrival, he is the ideal person to oversee the company’s next growth and transformation phase.”
Francis Pomerleau, Chief Executive, National Strategies, added: “Philippe will be able to count on the expertise and support of our committed and seasoned leadership team. He will also be able to rely on the talent of our more than 4,000 employees and workers, all of whom are building the company each day.”
I am honoured and privileged that Pierre and Francis have entrusted me with leading the company they have developed so remarkably, with authenticity and integrity. I would also like to thank the Board members for their support. In taking up this new role, I am committed to preserving and promoting the Pomerleau family’s unique legacy and its entrepreneurial values.
Learn more about Philippe here.
ABOUT POMERLEAU
Pomerleau is one of Canada’s largest construction companies, with over $4,3 billion in revenues in 2022. It delivers buildings, infrastructures, civil engineering works, and major projects using alternative models. With its research and development lab, Pomerleau integrates innovation in more than 80% of its projects and works in a sustainable way to build the living environments of tomorrow. Its subsidiary Borea executes 50% of the country’s renewable construction projects, and ITC Construction Group, acquired in 2022, is one of the largest residential construction companies in the West. It also owns Pomerleau Capital, a subsidiary specializing in private infrastructure investment and financing. Founded 60 years ago, Pomerleau has over 4,000 employees and workers at over 200 sites from coast to coast. The Company has been named among Canada’s Top 100 Employers since 2020. www.pomerleau.ca.
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For further information:
Stéphanie Lassonde
Vice-President, Marketing and Communications
(514) 262-5211
stephanie.lassonde@pomerleau.ca
