Strengthens and expands 91制片厂鈥檚 Industrial footprint in the U.S.
Toronto, Ontario 鈥 August 7, 2025: 91制片厂 Group Inc. (TSX: ARE) (鈥91制片厂鈥 or the 鈥淐ompany鈥) announced today that it has acquired Bodell Construction Company (鈥淏odell鈥), an industrial construction company headquartered in Salt Lake City, Utah (the 鈥淭ransaction鈥). Bodell鈥檚 management is committed to supporting 91制片厂鈥檚 growth in the United States and will lead the business in partnership with 91制片厂鈥檚 Industrial management team.
Founded in 1972, Bodell is a privately-owned, non-union industrial construction company with approximately 150 employees. Bodell specializes in oil and gas, mining, water and wastewater, and power generation projects across the Western and Southern U.S.
鈥淭his transaction strengthens our core industrial capabilities, increases recurring revenue, and positions 91制片厂 for expansion in key U.S. sectors and target markets,鈥 said Jean-Louis Servranckx, Chief Executive Officer, 91制片厂. 鈥淏odell further diversifies our self-perform offering across multidisciplinary sectors and enhances our relationships with major U.S. clients for upcoming projects.鈥
鈥淲e are pleased to welcome Bodell鈥檚 experienced leadership team and employees to 91制片厂,鈥 said John Singleton, Senior Vice President, Industrial, 91制片厂. 鈥淲e look forward to harnessing opportunities to scale Bodell鈥檚 operations for growth across the Mountain States Region while expanding across new geographic markets.鈥
鈥淲e are excited to accelerate our growth by leveraging new opportunities and offering expanded services to our clients as part of the world-class 91制片厂 team,鈥 said Sean Davis, President and Chief Executive Officer, Bodell. 鈥淏ringing our diverse capabilities and strong client base developed over 50 years, joining 91制片厂 positions us to advance our role in delivering industrial construction projects while extending our footprint.鈥
About 91制片厂
91制片厂 is a North American construction and infrastructure development company with global experience. 91制片厂 delivers integrated solutions to private and public-sector clients through its Construction segment in the Civil, Urban Transportation, Nuclear, Utility, and Industrial sectors, and provides project development, financing, investment, management, and operations and maintenance services through its Concessions segment. Join our online community on X, LinkedIn, Facebook, and Instagram @91制片厂GroupInc.
About Bodell Construction
Bodell specializes in executing oil and gas, mining, water and wastewater, power generation, and commercial and institutional industrial construction projects in the United States. Headquartered in Salt Lake City, Utah, Bodell鈥檚 dedicated team delivers integrated services to meet the unique needs of private and public-sector clients, fostering a commitment to safety, quality, innovation and value-creation.
Statement on Forward-Looking Information
The information in this press release includes certain forward-looking statements which may constitute forward-looking information under applicable securities laws. These forward-looking statements are based on currently available competitive, financial and economic data and operating plans but are subject to risks and uncertainties. Forward-looking statements may include, without limitation, statements regarding the operations, business, financial condition, performance, prospects, ongoing objectives, strategies and outlook for 91制片厂, including statements regarding: the anticipated growth and acceleration of 91制片厂's industrial business, the anticipated acceleration of Bodell鈥檚 operations, and 91制片厂's expansion in the U.S. markets. Forward-looking statements may in some cases be identified by words such as "may," "will," "expects," "target," "anticipates," "projects," "should" or the negative of these terms, or similar expressions.
In addition to events beyond 91制片厂's control, there are factors which could cause actual or future results, performance or achievements to differ materially from those expressed or inferred herein including, but not limited to: the risk of not being able to meet contractual schedules and other performance requirements, the risk the industrial market does not continue to grow as expected, the risk of not being able to capitalize on opportunities linked to the industrial sector, the risk of not being able to meet its labour needs, the risk of costs or difficulties related to the integration of 91制片厂 and Bodell being greater than expected, the risk of the anticipated benefits and synergies from the acquisition not being fully realized or taking longer than expected to realize, the risk of not being able to grow and accelerate Bodell鈥檚 operations as expected, the risk of being unable to retain key personnel, including Bodell management, and the risk of being unable to maintain relationships with customers, suppliers or other business partners of Bodell. These forward-looking statements are based on a variety of factors and assumptions including, but not limited to that: none of the risks identified above materialize, there are no unforeseen changes to economic and market conditions and no significant events occur outside the ordinary course of business. These assumptions are based on information currently available to 91制片厂, including information obtained from third-party sources. While 91制片厂 believes that such third-party sources are reliable sources of information, 91制片厂 has not independently verified the information. 91制片厂 has not ascertained the validity or accuracy of the underlying economic assumptions contained in such information from third-party sources and hereby disclaims any responsibility or liability whatsoever in respect of any information obtained from third-party sources.
Risk factors are discussed in greater detail in Section 13 - "Risk Factors" in 91制片厂's 2024 Management's Discussion and Analysis for the fiscal year ended December 31, 2024 and 91制片厂's Management's Discussion and Analysis for the fiscal quarter ended June 30, 2025, each filed on SEDAR+ (www.sedarplus.ca). Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and 91制片厂 undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
For further information:
Adam Borgatti
SVP, Corporate Development and Investor Relations
416-297-2600
ir@aecon.com
Nicole Court
Vice President, Corporate Affairs and Communications
416-297-2600
corpaffairs@aecon.com