TORONTO - Aecon Group Inc. has signed a deal to acquire Voltage Power, an electrical transmission and substation contractor based in Winnipeg. Under deal, Aecon will pay $30 million in cash, with additional payments possible based on achieving minimum financial targets over the next three years. Aecon chief executive Jean-Louis Servranckx says Voltage Power is the third strategic, tuck-in acquisition Aecon has made over the past 18 months. Aecon says Voltage Power has had average annual revenue of approximately $60 million over the past three years. Voltage Power is a private, employee-owned company.

Source: thestar February 03, 2020 12:45 UTC