Bird Construction announced on August 31 that it has entered into a deal to acquire civil-infrastructure company Dagmar Construction.

The $32-million transaction was completed shortly after midnight on September 1. Bird intends to finance 80 percent of the transaction through debt with balance coming from Bird treasury shares issued to the seven principal vendor shareholders.

The Dagmar management team will continue to operate the business with the support of Bird.

Ajax-based Dagmar has 80 years’ experience across key civil infrastructure sub-sectors including road, bridge, rail, sewer and water, and commercial-institutional sites. The firm has developed a niche for delivery of complex and specialized civil infrastructure projects for both private and public owners across Ontario.

The company’s capabilities and service offerings, integrated with Bird's existing civil business, improves Bird's competitive position nationally, and in Ontario in particular.

"This acquisition provides a platform for Bird, in the largest civil infrastructure market in Canada, to combine our national civil resources with Dagmar's extensive experience in Ontario, and it will be a catalyst for long term growth in the infrastructure sector. It is consistent with our strategy to diversify across both geography and market segments," said Bird President and CEO Teri McKibbon. "Through the combination of our two, highly respected businesses, Bird will be positioned to deliver a robust suite of services and leverage strong cross-selling opportunities with major clients across Canada. We are confident in the opportunities this transaction creates for our employees and our clients, and we expect long-term value creation for all of our stakeholders."

"I am very pleased to become an important part of Bird's future, enabled through our well-aligned cultures and company values. In addition to expanding services to our existing clients, this transaction will open the door to larger scale, more diverse work than currently possible," said Denis Bigioni, President of Dagmar. "The opportunities that our collective teams will now be able to access with Bird's national resources and Dagmar's 80 years of history in the Ontario market, will enhance value for all stakeholders."