MONTREAL, July 19, 2022 - Pomerleau Inc., a Canadian leader in the construction industry, announced today that it has entered into an agreement for the acquisition of ITC Construction Group (‘’ITC’’), a leading general contractor headquartered in Vancouver, that specializes in the construction of multi-unit residential high rises in Western Canada.
"This transaction, the largest in our 60 years of operations, is all about people and the core values shared by our two businesses," said President and CEO Pierre Pomerleau. "We are extremely fortunate to be able to partner with this very well-known and respected company, which will continue to operate independently. Adding ITC’s highly skilled and complementary expertise will help Pomerleau further position itself as a Pan-Canadian construction company." he added.
"We are very excited for the two businesses to work aside one another and build the communities of tomorrow," said President and CEO of ITC Doug MacFarlane. "In looking for a partner to support the next steps of development for the business and our employees, we found Pomerleau best positioned to support our vision to deliver quality projects and develop long-term relationships with our clients and partners" he added.
This transaction has been approved by both Pomerleau and ITC Board of Directors and awaits approval from the Competition Bureau. The transaction is expected to be completed by the end of August 2022.
About Pomerleau
Pomerleau is one of Canada's leading construction companies and a pioneer in sustainable buildings. It specializes in the building, infrastructure and civil engineering. The company also excels in virtual design and construction (VDC). Founded nearly 60 years ago, the company employs up to 4,000 people at its nine regional offices and on nearly 200 worksites across the country. In 2020, Pomerleau was named one of Canada's Top 100 Employers. For details about Pomerleau, visit www.pomerleau.ca.
About ITC
ITC Construction Group is an award-winning general contractor that specializes in the construction multi-unit residential high rises in Western Canada. With 39 years of experience, over 200 completed projects in Vancouver, Calgary, Edmonton, Kelowna and Nanaimo, ITC’s 250-plus personnel are well-versed in delivering on ITC’s Quality Counts promise on each of its projects. ITC has been named one of Canada’s Best Managed Companies (Platinum Member) since 2003.
SOURCE Pomerleau Inc.
For further information: Isabelle Dubé-Côté, Pomerleau Inc., 514 789-2728, communications@pomerleau.ca