North American Construction Group Acquired For US$310 Million By Private Equity Investors
12/8/2003
Contact:
Genstar Capital
Andrea Ginsberg
(415) 664-4680
aginsberg@gencap.com
Houston, Texas and San Francisco, California, (December 8, 2003), – North America Construction Group (“NACG” or the “Company”) has been acquired by an investor group comprised of The Sterling Group, L.P., Genstar Capital, L.P., Perry Strategic Capital Inc., Stephens Group, Inc., BNP Paribas Securities, and members of management for US$310 million.
NACG, based in Edmonton, Canada, is an energy services company providing civil construction services to major oil and gas companies developing the oil sands of Alberta, Canada and to developers of other Canadian natural resources. The Company offers a variety of services including contract mining, site preparation, piling and pipeline installation. The Company’s revenues and adjusted EBITDA for the twelve months ending September 30, 2003 were US$308 million and US$65 million.
The investor group raised US$200 million of 8