Pomerleau Inc., announced today that it has signed a letter of intent and has begun a due diligence process for the acquisition of the assets and project backlog of Quebec-based construction company Verreault. Once the transaction is completed, Pomerleau will increase its backlog by approximately $300 million and will complete the projects initially undertaken by Verreault.
"This acquisition is all about people and expertise," said President and CEO Pierre Pomerleau. "Adding Verreault's very skilled workforce to our team of experts reinforces Pomerleau's identity as the incontestable construction leader in Quebec-and strongly positions us for the national expansion we are undertaking," he added.
"The Verreault acquisition combined with the recent expansion of our footprint in the Atlantic region is a concrete example of our commitment to grow the Pomerleau brand nationally," said Mr. Pomerleau. "We are adding skills, experience and manpower to execute a wider variety of projects across Canada and will continue looking for further opportunities to grow," he concluded.
Pomerleau and Verreault
Pomerleau and Verreault have been active players in the Quebec construction industry and have worked in joint-venture arrangements on a variety of successful projects in the past, including the Montreal-Trudeau International Airport expansion, the CHUM Research Centre and the Sir Mortimer B. Davis Jewish General Hospital.
Verreault was founded in 1927 and is specialized in general contracting, project management, construction management and turnkey solutions in the commercial, institutional and industrial sectors.