Enterprise Group, Inc. Announces Closing of a Specialized Underground Infrastructure Construction Company
Enterprise Group Inc. announced that it has completed its acquisition of Calgary Tunnelling & Horizontal Augering Ltd., a specialized underground infrastructure construction company, for a purchase price of $12 million plus working capital, subject to post-closing adjustment. The acquisition is effective May 1, 2013.
Founded in 1984, Calgary Tunnelling & Horizontal Augering Ltd. is a North American leader in the highly specialized tunneling field. Calgary Tunnelling utilizes a number of tunneling disciplines to get the job done efficiently and safely. Some of these disciplines are laser guided boring & augering, pipe ramming, pipe jacking/tunnel boring (TBM), among others.
Calgary Tunnelling performs its services from the West Coast through to central Canada across the energy, utility and infrastructure segments. Its clients range from Canada’s largest rail companies and premier utility providers to leading infrastructure contractors and some of North America’s largest pipeline companies. The company’s revenue stream is well diversified between all of these segments.
Current infrastructure projects include a series of technically difficult tunnels being constructed at the massive $600 million Calgary International Airport expansion, while other crews are completing several large diameter utility crossings under the Trans Canada highway near Banff National Park. In Saskatchewan, crews are currently working to bring in underground water lines to one of Canada’s largest Potash producers.