Canadian construction firm Bird Construction has entered into a definitive agreement to acquire Fraser River Pile and Dredge (FRPD) for an estimated aggregate consideration of $82.3 million.
FRPD is described as Canada’s oldest and largest privately-owned marine construction, land foundation, and dredging company. The company said the transaction is expected to be completed early in the fourth quarter of 2025, pending regulatory approvals.
Headquartered in New Westminster, British Columbia, and founded in 1911, FRPD has over 300 personnel. According to a statement, the company's experience extends across the country, with projects ranging from infrastructure support in the north to dredging and port expansion in the St. Lawrence Seaway.
Teri McKibbon, President and CEO of Bird, stated that the acquisition is expected to be a catalyst for future growth. He added that the addition of FRPD's unique self-perform capabilities provides Bird with a more comprehensive platform to support larger-scale projects for public and private clients across Canada.
The acquisition will be funded through a new term debt facility. Bird expects the transaction to be accretive to its adjusted earnings per share by approximately seven per cent on a full-year basis, with potential for further growth from cross-selling opportunities.