Bullboard - Stock Discussion Forum Bird Construction Inc T.BDT

Alternate Symbol(s): BIRDF

Bird Construction Inc. is a Canadian construction and maintenance company operating from coast-to-coast-to-coast. The Company provides a range of construction services from new construction for industrial, infrastructure and institutional markets; to industrial maintenance, repair and operations (MRO) services, heavy civil construction and mine support services; as well as vertical... see more

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TSX:BDT - Post Discussion

Bird Construction Inc > Bird to Acquire B.C.-Based Civil Infrastructure Contractor

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Post by Betteryear2 on Jun 10, 2024 6:33pm

Bird to Acquire B.C.-Based Civil Infrastructure Contractor

TRANSACTION HIGHLIGHTS

Establishes Bird in BC’s high-demand civil infrastructure market and adds significant scale and diversification in the region.
Expected to enhance Bird’s Adjusted EBITDA Margins through focus on complex, specialized projects and self-perform work.
Supports value creation through anticipated 10% Adjusted EPS accretion with further potential upside from cross-selling opportunities and other synergies.
Implied purchase multiple of 3.7x Jacob Bros’ projected full year 2024 Adjusted EBITDA based on an estimated purchase price of $135 million, exclusive of future synergies.

MISSISSAUGA, Ontario, June 10, 2024 (GLOBE NEWSWIRE) -- Bird Construction Inc. (TSX: BDT) (“Bird” or “the Company”) announced today that it has entered into a definitive share purchase agreement (the “Agreement”) under which Bird will acquire Jacob Bros Construction (“Jacob Bros”) for estimated aggregate consideration of $135 million (the “Transaction”). The Transaction, pending relevant regulatory approvals and the satisfaction of other customary closing conditions, is expected to be completed early in the third quarter of 2024.

Bird to Acquire B.C.-Based Civil Infrastructure Contractor (globenewswire.com)