Category: Economy

Key Takeaways:

• CGC is acquiring Imperial Building Products (IBP) to expand its product portfolio and strengthen supply chains across Canada, marking a major step in its national growth strategy.
• IBP’s five manufacturing facilities in key provinces will enhance CGC’s ability to serve residential and commercial construction markets from coast to coast.
• The acquisition supports national housing and infrastructure goals by improving access to essential building materials and reinforcing Canadian manufacturing capabilities.

The Whole Story:

CGC Inc., a leading manufacturer of gypsum-based building materials in Canada, has signed a definitive agreement to acquire Imperial Building Products Ltd. (IBP), a national producer of steel framing components, drywall trims, and proprietary structural solutions.

The acquisition marks a major step in CGC’s strategy to bolster domestic manufacturing and supply chains, and to support Canada’s rising demand for housing and infrastructure.

Based in Richibucto, N.B., IBP was founded in 1990 as a division of Imperial Manufacturing Group. It operates five manufacturing facilities across New Brunswick, Quebec, Ontario, Alberta, and British Columbia. The company is widely recognized for its technical expertise and reliable service in both residential and commercial construction.

“Expanding CGC’s portfolio through the acquisition of IBP is a strategic investment in the future of Canadian manufacturing and construction,” said CGC President Steve Youngblut in a statement. “By bringing together CGC’s expertise in wall and ceiling systems with IBP’s leadership in steel framing, we are better positioned to serve customers from coast to coast and support Canada’s housing and infrastructure priorities.”

The move builds on CGC’s recent investments in facilities in Little Narrows, N.S., and Wheatland County, Alta. CGC said adding IBP’s network of plants will strengthen its national reach, diversify its product offerings, and increase supply chain resilience.

IBP will continue to operate as a distinct business unit within CGC following the acquisition. No immediate changes are expected for employees or customers.

“We are proud to become part of the CGC family,” said IBP President Cesare Minchillo. “This acquisition brings together two Canadian companies with complementary strengths and shared values. We look forward to expanding our reach and continuing to support Canada’s builders.”

The transaction involves 100 per cent of IBP’s shares and excludes Imperial Metal Services and other affiliates of Imperial Manufacturing Group. It is expected to close in the third quarter of 2025, subject to regulatory approvals and standard closing conditions.

Key Takeaways:

• Maple Reinders Group has divested its majority-owned environmental subsidiary, AIM Group Ltd., to Convertus Canada in a strategic move to advance innovation and sustainability in the waste management sector.
• Under Maple Reinders, AIM designed, built, and operated more municipal organics treatment facilities than any other company in Canada, at one point handling about 10% of the country’s residential organic waste.
• Maple Reinders will continue providing complex environmental infrastructure services through its Maple Facilities Management arm, and plans to maintain a close commercial relationship with Convertus as both firms work toward shared sustainability goals.

The Whole Story:

Maple Reinders Group has sold its majority-owned environmental subsidiary, AIM Group Ltd., to Convertus Canada in a move the company says will advance shared goals of innovation and sustainable waste management across the country.

The terms of the deal were not disclosed, but Maple Reinders says the transaction marks a strategic milestone in its ongoing commitment to delivering complex infrastructure projects in Canada’s environmental sector.

AIM Group has been part of Maple Reinders’ portfolio for over 20 years, helping the firm design, build, operate and maintain municipal organic waste treatment facilities nationwide. The partnership delivered several major achievements, including the operation of some of Canada’s largest municipal organics plants and the processing of approximately 10 per cent of the country’s residential organic waste.

“This sale to Convertus Canada represents an exciting opportunity for the AIM Group to continue its growth trajectory under new ownership,” said Harold Reinders, president and CEO of Maple Reinders Group. “We are proud of the legacy AIM has built under our stewardship and look forward to continued collaboration with Convertus in delivering sustainable solutions.”

Reuben Scholtens, national vice-president of Maple Reinders and the lead on the transaction, said the sale reflects a strategic alignment with a partner that shares the company’s focus on innovation and environmental performance.

Convertus Canada, a national leader in organic waste processing, will integrate AIM Group’s operations to bolster its capacity and market position. The companies said they are working to ensure a seamless transition for employees, clients, and stakeholders.

Maple Reinders will continue to deliver environmental infrastructure services through its wholly owned subsidiary, Maple Facilities Management, including operations and maintenance for water and wastewater treatment plants. The company also recently completed construction of what it describes as North America’s most advanced municipal organics aerobic digestion facility in Halifax.

Key Takeaways:

• The company has officially separated from Holcim and began trading on the NYSE and SIX exchanges under the ticker “AMRZ” as of June 23, 2025.
• In 2024, Amrize reported $11.7 billion in revenue and $3.2 billion in adjusted EBITDA, with a solid track record of double-digit growth and over 50% EBITDA cash conversion since 2021.
• With over 1,000 locations and 19,000 employees, Amrize aims to be the leading partner for professional builders across North America, leveraging trends like infrastructure upgrades, housing demand, and industrial reshoring.

The Whole Story:

Amrize made its debut Monday as an independent, publicly traded company following the completion of a full spin-off from Holcim Ltd.

The newly separated firm began trading on both the New York Stock Exchange and the SIX Swiss Exchange under the ticker symbol “AMRZ.” The spin-off was completed via a dividend-in-kind distribution, granting Holcim shareholders one Amrize share for every Holcim share owned as of June 20.

Headquartered in North America, Amrize provides construction solutions for infrastructure, commercial, and residential projects, with a network of more than 1,000 sites and 19,000 employees serving every U.S. state and Canadian province.

“This is an exciting day for all our teammates across North America,” said Amrize chairman and CEO Jan Jenisch. “As an independent company, Amrize is well positioned to benefit from long-term trends like infrastructure modernization, onshoring of manufacturing, and housing demand.”

The company reported US$11.7 billion in revenue in 2024, representing a compound annual growth rate (CAGR) of 13 per cent since 2021. Adjusted EBITDA totalled $3.2 billion last year, with a 27 per cent margin, and free cash flow reached $1.7 billion. Since 2018, the company has completed 36 acquisitions.

Amrize leadership marked the milestone by ringing the opening bell at the NYSE and plans to visit sites across the U.S. and Canada to celebrate with employees.

The company said it will continue to pursue a growth-focused strategy that prioritizes reinvestment, acquisitions, and shareholder returns.

Key Takeaways:

• Wesgroup Properties has laid off staff due to severe financial pressures in the real estate sector, including rising construction costs and a stalled condo market, calling it a “cost-of-delivery crisis.”
• The condominium market in major Canadian cities is facing a sharp downturn, with projects being delayed or cancelled in Vancouver, Toronto, and Calgary as high interest rates, inflation, and weak pre-sale activity make developments financially unviable.
• Wesgroup remains financially stable and will complete active projects, but is pausing future developments while offering to support laid-off employees by connecting them with job opportunities in related industries.

The Whole Story:

Vancouver-based real estate developer Wesgroup Properties has laid off an undisclosed number of employees in response to what CEO Beau Jarvis describes as a “cost-of-delivery crisis” gripping the Canadian housing industry.

In a message shared publicly Friday, Jarvis said the company made the “extremely difficult decision” to reduce the size of its workforce due to prolonged economic uncertainty, rising development costs, and a stalled condo market.

“This was an absolute last resort,” Jarvis wrote, adding that Wesgroup had already implemented cost-cutting measures, streamlined internal processes, and sold off significant assets in an attempt to preserve jobs.

Despite those efforts, Jarvis said economic conditions made many housing projects across Canada no longer viable. “We are delivering housing at a cost that people cannot afford to purchase,” he said. “Housing projects across the country are being cancelled or delayed.”

The layoffs are not a reflection of employee performance, Jarvis emphasized, but rather a symptom of systemic issues affecting the broader real estate sector.

Wesgroup, which has operated for more than 60 years, says it remains financially stable and plans to complete all projects currently underway. Future projects, however, are being paused — a move Jarvis said contributed to the decision to downsize.

To support affected employees, the company is offering to connect them with potential employers in related fields, including construction, development, finance, leasing, and technology.

Wesgroup joins a growing number of Canadian developers facing delays, cancellations, or restructuring amid steep construction costs, high interest rates, and slowing home sales. Industry leaders and advocacy groups have warned that housing affordability efforts may stall unless governments address the cost and regulatory burdens tied to new development.

Jarvis closed his statement by expressing hope for a market recovery but acknowledged the sector faces continued uncertainty. “Until then,” he said, “we are focused on navigating these uncertain times with resilience and integrity.”

Canada’s condominium market is under significant strain, particularly in major cities like Toronto and Vancouver, where developers are shelving or cancelling projects due to mounting financial pressures. In Toronto, data shows pre-sale condo sales fell 71% in 2023 compared to the previous year — the lowest level in a decade — as buyers retreated in the face of high interest rates and unaffordable prices.

In Vancouver, developers have paused numerous high-rise projects in response to construction cost inflation and weak investor demand, with some projects failing to reach required pre-sale thresholds. Calgary, which had seen a surge in condo activity, is now experiencing growing caution as lending conditions tighten.

In an era of complex procurement and nation-building ambitions, winning major project proposals has never been more competitive—or more exhausting. SitePursuits, a new joint venture between SitePartners and Red Team Strategy, wants to change that.

Bringing together the strategic proposal expertise of Colleen Reid and the creative horsepower of SitePartners, SitePursuits offers full-cycle pursuit management, from compliance checks and messaging strategy to high-end video production and flythrough animations. The aim? Help firms of all sizes produce more compelling, complete and compliant submissions that win work.

We sat down with Colleen Reid, co-founder of SitePursuits, to learn how the initiative came together, why proposals are getting harder, and what it really takes to stand out.

SiteNews: First, tell me a bit about yourself and how you got into proposals.

Colleen Reid: I started as a marketing coordinator after my business degree and I just got into proposal coordination. It was just part of the sale process or the BD process… I loved writing. I loved putting together the package and then winning—that’s all A-type personality enjoyment for me.

I ended up moving to SNC-Lavalin—now AtkinsRéalis—where I spent almost five years learning everything. From there, I went to Ledcor, helped centralize some of their processes, then to EllisDon, and eventually realized I wanted to help other companies elevate their proposals. 

A lot of companies were reusing boilerplate. They were pursuing projects without a clear strategy. I knew I could give something more—craft something that was compliant, but also responsive and compelling. So I started Red Team Strategy in 2019 to help clients build better proposals.

Tell me about SitePursuits. How did the idea for the partnership with SitePartners come about?

SitePartners CEO Andrew Hansen and I go way back to our Ledcor days. We’d always referred clients to each other but never actually worked on something together. Then we reconnected when I visited his new Abbotsford office, and I had just wrapped up five major pursuits. I was burnt out.

I told him, “I’m so busy I’m turning away work. I don’t want people to even know I exist because I don’t have the capacity.” And he said, “We can help with this.” He had the team—copy editors, designers, support staff—and I had the expertise. We saw a huge opportunity to build something together that isn’t being serviced in the industry right now.

Why are these proposals so notoriously difficult?

The expectations are higher and the timelines are shorter. Authorities are asking for more information—more detail, better presentation—and they want it all in a compressed schedule.

When I started out, we were doing a couple of pages in Word. Now everything has to be branded, laid out in InDesign, visually compelling, and comprehensive. They’re not just asking about your team—they want to know about your structure, your diversity, your inclusion policies. It’s no longer one answer. It’s layers.

Who is SitePursuits for? What kind of client do you think will benefit most?

All sizes, to be frank.

Smaller firms might benefit from improved processes—they might think they’re being compliant, but they’re not double-checking requirements. They might not realize how impactful visuals can be in an executive summary.

For larger firms, they may not realize how their competition is elevating their proposals. You never see your competitors’ submissions, so you don’t know if they’re including video, animation, or unique storytelling. We bring that knowledge and help them go further.

And then you’ve got the developers or consortiums—these teams are dealing with so many moving pieces. We come in and help them coordinate across volumes, manage the writing, interview SMEs, and take that workload off their plate.

What separates a winning proposal from one that misses the mark?

Strong messaging. You need to show the client you’ve heard their challenges and that you’ve tailored your response. Developing key win themes and strategic positioning make all the difference. 

It’s also about the team—having the right people with the right experience. Price is obviously a big factor too. And then there’s the presentation. If it looks good, people know you’ve put time and effort into it. Good design isn’t just aesthetic. It helps clients absorb and relate to the information.

What trends are shaping how proposals are written today?

ESG is a big one. It’s no longer enough to say you support it—you need a comprehensive plan. Diversity and inclusion, Indigenous engagement, local economic impacts… all of that is part of it.

Indigenous engagement especially has grown significantly in Canada. It’s not just about artwork anymore. It’s about employment, training, and long-term community benefits.

Finally, technology integration. As the AEC industry embraces smarter, more efficient ways of designing and delivering projects, owners are placing growing emphasis on digital capabilities in their RFPs. Proposals are expected to show not just familiarity with industry tools but strategic use of technology to reduce risk, increase collaboration, and improve outcomes.

How is AI impacting how you approach proposal work?

AI is absolutely transforming how proposals are developed, much like it is in every industry. At SitePursuits, we’re actively leveraging AI to streamline tasks like writing, editing, and transcribing SME interviews. But we see AI as a tool—not a replacement. Our clients still rely on us for the human side: strategic thinking, creative positioning, navigating last-minute pivots, and being a true partner throughout the process. By combining human expertise with AI-powered execution, we’re able to deliver faster, more competitive proposals without sacrificing quality.

What makes SitePursuits unique in the marketplace?

Scalability and full-service delivery. Proposals have natural peaks and valleys—you might need one person at the start, six in the middle, and then scale back. That’s hard to manage internally. We can flex with that cycle.

And we offer everything in-house—editing, writing, proposal management, animation, video production. That’s rare. No more scrambling to find another consultant. It’s streamlined, cost-effective, and under one roof.

What kind of role can SitePursuits play in Canada’s infrastructure boom and nation-building efforts?

There’s always going to be a need to bid on projects. Even if delivery models shift, even if funding gets tighter—firms still need to communicate their value clearly and effectively.

We’re here to help them do that. Whether it’s hospitals, highways, power plants—there’s a role for experts like us to help companies compete and succeed in these high-stakes opportunities.

Finally, what’s your favourite part of the job?

When teams take the time to really understand why they’re pursuing a project—and how it aligns with what they offer. That’s when the strategy becomes exciting.

I love managing the whole cycle. There’s so much variety. One week it’s an airport, the next it’s a light rail project. I get to learn so much about how things are built, operated and maintained. I love that I get to be part of that.

Key Takeaways:

• Vancouver is introducing financial relief for developers to keep housing projects viable, including deferred payments for fees, expanded use of surety bonds, and a freeze on planned inflation-related increases.
• The city is streamlining development processes to reduce delays and costs, with improvements to rezoning timelines, sewer assessments, and design flexibility for taller and mass timber buildings.
• These changes are part of a broader strategy to ensure new housing—especially for middle-income earners—can move forward despite high construction costs and interest rates, with further reforms expected in the coming months.

The Whole Story:

Vancouver City Council has unanimously approved a slate of financial and regulatory changes aimed at keeping housing projects on track as rising construction costs and high interest rates threaten to stall new development.

The measures, passed Tuesday, are intended to relieve pressure on builders of rental and strata housing — particularly those targeting middle-income earners — as inflation and financing hurdles erode project viability.

“Vancouver currently leads the region in rental housing delivery,” said Mayor Ken Sim. “The changes passed today will give builders more flexibility to move forward and build urgently needed homes.”

Among the financial tools approved are deferred payment options for development cost levies (DCLs) and community amenity contributions (CACs), expanded use of surety bonds, and a freeze on scheduled inflation-related fee increases. Projects facing DCLs over $500,000 will now be able to pay in three installments, and the upfront CAC payment required at rezoning will drop from $20 million to $5 million, with the remainder deferred and secured through financial instruments.

Construction costs have surged faster than general inflation since the pandemic, and the city warns that without intervention, new housing supply will fall further behind demand, worsening affordability.

“By speeding up reviews and clarifying requirements, we’re helping projects move forward with greater confidence,” said Josh White, the city’s general manager of planning, urban design and sustainability.

Beyond financial measures, City staff are advancing process improvements to cut red tape and reduce costs. These include streamlining rezoning applications, updating sewer capacity assessments to avoid expensive off-site upgrades, and permitting larger floor plates for tall and mass timber buildings to improve construction efficiency.

The city is also refining its Community Benefits Agreement (CBA) policy to make requirements clearer and better support local hiring targets.

Council says the measures are the first in a series of reforms to help deliver housing while maintaining livability. Future steps will include further streamlining of rezoning, a review of growth-related funding tools, and updates to infrastructure and permitting policies.

Key Takeaways:

• Nova Scotia is streamlining the approval process for metal mining projects by introducing a phased approach that allows companies to submit some regulatory requirements later in the project timeline, helping reduce delays and accelerate development.
• The province is establishing a specialized team within the Environment Department to handle mining applications, aiming to provide faster, more consistent decisions supported by industry-specific expertise.
• Environmental protections remain in place, with companies still required to meet national environmental standards and follow best practices, including compliance with the Mine Environment Neutral Drainage guidance.

The Whole Story:

The Nova Scotia government is overhauling its industrial approval process for metal mining projects, aiming to speed up development while maintaining environmental protections.

Environment and Climate Change Minister Tim Halman announced the changes Thursday, describing them as a “smarter” approach that reduces red tape and offers greater clarity for industry without weakening oversight.

“These changes will result in a smarter application process that is clearer for industry, maintains strong environmental protection and helps grow our economy,” Halman said during a news conference. “Our mining industry is critically important and can play a larger role in supplying the minerals that are in global demand to fight climate change.”

The revised process introduces a phased approach to approvals, allowing mining companies to submit some documentation—such as erosion control plans or land reclamation securities—later in the project timeline, rather than at the initial application stage. The province says this change will help reduce delays between environmental assessment and the start of construction.

A new dedicated “Large Industrial File Team” will also be established within the Environment Department to manage mining applications. Staff with mining and compliance expertise will focus on ensuring timely, consistent decisions, the government said.

The updated process includes easier-to-follow forms, plain-language guidance, and checklists to assist companies in meeting regulatory requirements. Officials say this will help reduce uncertainty and speed up reviews.

In addition, the province will require all metal mining projects to follow national Mine Environment Neutral Drainage guidance, aligning Nova Scotia’s environmental standards with federal best practices.

Christian West, president of the Mining Society of Nova Scotia, welcomed the changes, saying they strike a balance between efficiency and environmental protection.

“We expect [this] will improve the efficiency of the permitting process, all the while maintaining high environmental standards to develop projects that are indeed in the public good,” West said in a statement.

Metal mining projects in Nova Scotia require two separate approvals: an environmental assessment and an industrial approval, the latter of which regulates construction, operation, and eventual reclamation. The new approach builds on earlier updates to the province’s environmental assessment process announced in May.

Key Takeaways:

• Sasuchan Development Corporation and Backwoods Energy Services—economic arms of the Takla Nation and Alexis Nakota Sioux Nation, respectively—have formed a strategic partnership to promote Indigenous-led economic growth and self-determination.
• The alliance is focused on creating long-term employment, capacity building, and sustainable energy sector opportunities that align with Indigenous values and community priorities.
• Both companies emphasized that this collaboration is not just a business venture, but a demonstration of Indigenous leadership, unity across regions, and a model for future inter-Nation cooperation in the Canadian energy and services sectors.

The Whole Story:

Two Indigenous-owned businesses from Western Canada are joining forces in a new partnership aimed at strengthening economic self-determination and creating long-term prosperity for their communities.

Sasuchan Development Corporation, the economic arm of B.C.’s Takla Nation, announced Monday a formal alliance with Backwoods Energy Services, an Alberta-based company wholly owned by the Alexis Nakota Sioux Nation.

The agreement brings together two Nation-owned enterprises with a shared focus on Indigenous-led growth, capacity-building and sustainable business development in the energy sector.

“This partnership is about more than just business—it’s about Indigenous-led leadership, collaboration, and building economic strength on the Nation’s terms,” said Michael Robert, CEO of Sasuchan Development Corporation. “Together with Backwoods, we are demonstrating the strength of Nation-to-Nation connections and the possibilities that emerge when we share knowledge and move forward with unity.”

Backwoods Energy Services is a prominent provider of energy and environmental services across Western Canada. CEO Dario Gnoato says the partnership reflects a broader commitment to long-term community impact.

“These collaborations go beyond joint operations,” Gnoato said. “They represent a commitment to capacity building, shared learning, and mutual success. By combining our strengths, we can deliver more innovative and efficient solutions while ensuring that the economic benefits go directly to Indigenous families and communities.”

Both organizations say the alliance will help expand employment opportunities, increase Indigenous representation in the energy sector, and foster development that respects and reflects the values of their respective Nations.

“We are proud to stand alongside Backwoods Energy Services in this important work,” Robert added.

Sasuchan Development Corporation leads economic initiatives for the Takla Nation with a focus on sustainability and cultural alignment. Backwoods Energy Services, owned by the Alexis Nakota Sioux Nation, is known for providing high-quality services while advancing Indigenous workforce participation and community reinvestment.

Key Takeaways:

• Montreal-based WSP Global Inc. has agreed to acquire UK engineering and consultancy firm Ricardo plc for approximately $670 million, marking a significant expansion in WSP’s global footprint and technical consulting capabilities.
• The acquisition aligns with WSP’s 2025–2027 strategic plan by strengthening its position in sectors like energy transition, rail infrastructure, water resilience, and environmental policy—areas where Ricardo’s Environment & Energy and Rail divisions are particularly strong.
• While Ricardo’s Environment & Energy and Rail segments are seen as core to WSP’s future, its Automotive & Industrial and Performance Products divisions are under review and may be divested as part of WSP’s focus on strategic realignment.

The Whole Story:

WSP Global Inc. has reached an agreement to acquire the entire share capital of Ricardo plc, a UK-based engineering and consultancy firm, in a deal valued at approximately $670 million.

The Montreal-headquartered professional services firm said it will pay 430 pence per share for Ricardo, representing an enterprise value of roughly £363.1 million. The acquisition is expected to close in the fourth quarter of 2025, pending shareholder and court approvals under a UK scheme of arrangement, as well as regulatory clearances.

Ricardo employs about 2,700 people across more than 20 countries, offering services in transport, energy, water, and environmental policy. The company’s business is split between its Environment and Energy (EE) and Rail segments, which together account for about 1,700 staff, and its Automotive and Industrial (A&I) and Performance Products (PP) units, which employ around 1,000.

In recent years, Ricardo has shifted its strategic focus toward its EE and Rail operations. Under WSP’s ownership, the company is expected to continue a strategic review of its A&I and PP divisions, which could lead to a divestment.

WSP said the acquisition fits within its 2025–2027 global strategic plan by expanding its presence in high-growth sectors such as energy transition, water resilience, rail infrastructure, and environmental advisory services. The transaction also strengthens WSP’s footprint in key markets, including the United Kingdom, Australia, and the Netherlands.

WSP president and CEO Alexandre L’Heureux said the deal would allow the company to combine its global reach with Ricardo’s technical expertise in strategic consulting and engineering.

To finance the acquisition, WSP has secured a £230 million term loan facility from Royal Bank of Canada. The remainder of the purchase price will be covered using existing credit lines and available cash.

Ricardo’s board has agreed to the acquisition terms, and WSP has received support from major shareholders representing more than 48 percent of Ricardo’s outstanding shares as of June 10. WSP will separately acquire a 19.9 percent stake in Ricardo from Science Group plc around June 16 at the same offer price.

Legal counsel for WSP is being provided by Linklaters LLP, with RBC Capital Markets acting as financial advisor.

Dynamic Capital Equipment Finance Ltd. (Dynamic Capital) has closed its largest transaction to date – funding the acquisition of Formula Contractors Ltd. (Formula) by Prince George-based entrepreneur Will Hoban.

Formula, formerly known as Formula Piling & Bridge Contractors Ltd., has been a cornerstone in Western Canada’s heavy civil construction industry since the 1970s. With this acquisition, Hoban aims to build on the company’s long-standing reputation for quality, reliability, and innovation across infrastructure, energy, and resource sectors.

We caught up with Hoban to discuss this milestone and get some of the details behind the big move.

SiteNews: How did Formula come on your radar and what about it stood out to you as a good acquisition?

William Hoban: I’ve known founder Peter [Thwaites] for years. Peter had sold to Brian Fehr Group and was looking to divest their investment. It happened to be the right time for us as we were looking to expand and grow, and they are a well-known brand in the north and B.C. as a bridge builder. 

How does Formula fit into your current business strategy?

I think we have aging infrastructure all around in Canada. That’s not just roads but also bridges. Formula has been really good at bridges and Enviro-Ex was getting into the bridge space. It became obvious that we needed to look to other avenues to grow our business with people. I need to make it clear Enviro-Ex and Formula are not amalgamated. They are two separate operating entities and will continue to be. We’ve changed the name to go back to its original roots, similar to its original name.

This was Dynamic Capital’s largest transaction to date. What role did they play in this acquisition? 

I’ve known Dustin [White] for quite a few years, back when he was with GE Capital and I’ve kept in touch with him. He’s been on his own for quite a while, and at Christmas time he was in Prince George and we connected for coffee. He thought he would be able to put this together quickly and easily.  He was able to finance an entire deal for us and at the same time do so quickly and professionally. 

How important is quick access to capital for entrepreneurs like yourself? 

I think without having access to capital and people who can do things quickly, faster than traditional banks, the ability to grow with your own cash is minimal. We have largely self funded our growth, but this was a larger transaction and required some capital, 

What will the transition process look like?

I think Formula has a lot of strengths as does Enviro-Ex and we are looking to utilize the two companies’ internal strengths for the benefit of each other. Some processes are better with Formula and vice versa, so we are looking to capture the best of both worlds to make sure both companies are stronger. Other than that wont be much change at all. Clients and employees wont see much change. They are basically business as usual.

What advice would you give to other construction leaders considering acquisition as a growth strategy?

It’s a long process. Buckle up.

Green Infrastructure Partners (GIP), one of Canada’s largest integrated infrastructure companies, has acquired Newfoundland-based contractor Pennecon Limited.

The deal brings one of Atlantic Canada’s most prominent construction firms under the GIP banner. While financial details were not disclosed, GIP executives have publicly confirmed the acquisition and welcomed Pennecon staff into the company.

“This acquisition expands GIP’s geographical footprint and scope of work, strengthening our position as a leading self-performing service provider across Canada,” said John Pontarollo, COO at GIP, in a post on LinkedIn. “I’m excited about the future we’re building together as we welcome Pennecon’s employees. Together we will continue delivering safe and exceptional integrated solutions, now as One GIP team.”

Pennecon, founded in 1970, has grown into a national firm specializing in heavy civil construction, industrial services, marine infrastructure, and maintenance. Headquartered in St. John’s, the company has worked on major energy, infrastructure and transportation projects across Canada and was recently recognized as a Platinum Club member in Canada’s Best Managed Companies program.

Based in Markham, Ont., GIP offers services ranging from excavation and paving to demolition and structural work. It was created in 2022 through a spin-off from GFL Environmental and has since grown through a series of acquisitions, including Coco Paving and Aecon’s roadbuilding business in Ontario.

Key Takeaways:

• Dynamic Capital Equipment Finance Ltd. has completed its largest transaction to date by funding the acquisition of Formula Contractors Ltd. by Prince George-based entrepreneur Will Hoban, showcasing its capacity to support large, strategic deals in capital-intensive sectors.
• Will Hoban aims to build on Formula’s decades-long reputation in Western Canada’s heavy civil construction industry, retaining its brand identity while restoring its original name, Formula Contractors Piling & Bridge Ltd., and focusing on continued growth across infrastructure and energy sectors.
• The deal underscores Dynamic Capital’s role as a key enabler for entrepreneurial expansion, reinforcing its position as a national leader in equipment finance through fast, flexible, and strategic support for major transactions.

The Whole Story:

Dynamic Capital Equipment Finance Ltd. (Dynamic Capital) has closed its largest transaction to date – funding the acquisition of Formula Contractors Ltd. (Formula) by Prince George-based entrepreneur Will Hoban.

Formula, formerly known as Formula Piling & Bridge Contractors Ltd., has been a cornerstone in Western Canada’s heavy civil construction industry since the 1970s. With this acquisition, Hoban aims to build on the company’s long-standing reputation for quality, reliability, and innovation across infrastructure, energy, and resource sectors.

“This is a landmark moment for us at Dynamic Capital,” said Dustin White, CEO of Dynamic Capital. “It’s the largest transaction we’ve financed to date, not just in size, but in strategic impact. As a covenant-light, true term lender, we pride ourselves on our ability to move quickly and decisively to support entrepreneurs making bold moves in capital-intensive industries.”

Formula has grown from a skilled team of bridge builders into a leading provider of construction, engineering, contracted services, and heavy equipment solutions. Today, it serves a broad range of sectors-from oil and gas to renewable energy-delivering excellence across every project.

Under Hoban’s leadership, the company will continue to operate under its current brand, Formula Contractors, but return to its roots with an incorporated name of Formula Contractors Piling & Bridge Ltd., while maintaining its independent brand identity and strong commitment to Western Canadian markets.

“Formula stands as a legacy of integrity and excellence in infrastructure and construction,” said Will Hoban, President of Formula Pile & Bridge Ltd. “I have immense respect for the long-standing relationship with Formula and deep admiration for its founder, Peter Thwaites, an industry pioneer whose vision and leadership shaped this company into what it is today. I’m honored to lead the next chapter of growth, investing in the people, equipment, and relationships that have made Formula a trusted name in the industry.”

“The Formula acquisition is especially meaningful given the strength of the business and our ability to support an entrepreneur like Will Hoban in his vision,” added White. “Helping bring this deal together with speed and certainty reflects exactly what Dynamic Capital was built to do.”

This transaction marks an exciting new chapter for Formula, while reinforcing Dynamic Capital’s position as a national leader in equipment finance – delivering capital, confidence and execution at scale.

Holcim acquires Langley Concrete Group

Holcim has acquired the operations of Langley Concrete Group Inc., a provider of precast solutions based in British Columbia. This strategic move marks the company’s entry into the precast concrete market in the province, expanding its national capabilities and strengthening its footprint in the rapidly growing infrastructure sector. The acquisition includes two state-of-the-art production facilities in Chilliwack and Duncan, British Columbia. These facilities will serve the local region and manufacture a wide range of dry-cast and wet-cast concrete products for both above- and below-ground infrastructure applications. 

BM Group announces Merrit Ready Mix brand

BM Group of Companies has launched Merritt Ready Mix, a new concrete supply venture strategically located in the fast-growing City of Merritt, British Columbia. Built using existing infrastructure, the operation offers a full suite of services including ready-mix concrete, aggregates, rebar sales, foundation form rentals, and Hiab crane truck deliveries. Positioned to serve rising demand from local real estate and infrastructure projects, Merritt Ready Mix will also benefit from close collaboration with nearby Princeton Ready Mix, enhancing regional service capacity.

PCL expands presence in America’s Southwest region

PCL Construction is expanding its presence with a new commercial buildings office in Phoenix, building on over 30 years of successful water and civil operations in the Southwest. Led by 20-year PCL veteran David Campbell, the office aims to support the city’s rapid growth across sectors like aviation, hospitality, and retail. Already active in regional philanthropy, PCL plans to deepen its community involvement as it shapes Phoenix’s evolving skyline.

Crown expands into Alberta

Crown Building Supplies has expanded into Alberta with the acquisition of ADSS Building Supplies, adding new locations in Calgary and Edmonton, including a 60,000 square foot facility in Calgary. This strategic move marks a major milestone in the company’s growth, enhancing its ability to serve the Western Canadian market with the same reliable products and service that have defined its decade-long success. By integrating operations, inventory, and customer relationships, Crown aims to continue delivering professional, transparent support to contractors and builders across the region.

TBT Engineering merges with LBE Group

TBT Engineering Limited (TBTE), a multi-disciplinary firm based in northwestern Ontario, is marking its 30th anniversary with significant expansion, including a merger with Kenora-based LBE Group Inc. and the opening of a new office in Ottawa. These moves add 15 professionals and broaden TBTE’s capabilities in structural, mechanical, electrical, civil, environmental, and geotechnical engineering, along with hydrogeological and geoenvironmental services.

CM Labs acquires AI Redefined

CM Labs Simulations has acquired AI Redefined (AIR) to enhance its mission of transforming workforce development through intelligent, real-time training solutions. Known for its Vortex platform and over 25 years of simulation expertise, CM Labs aims to integrate AIR’s AI technology—originally developed for aerospace and defense—to create adaptive training environments that evolve with learners. This move strengthens CM Labs’ commitment to empowering operators and trainers with innovative tools that reflect real-world demands, rather than replacing them with automation.

Women Building Futures sets up in Ontario

Women Building Futures, a non-profit founded in Edmonton in 1998 to support women and gender-diverse individuals in achieving economic security through skilled trades, has expanded its training programs to Sarnia, Ontario—its third province. The expansion targets high-opportunity sectors like petrochemicals, agriculture, and automotive, with the first Ontario program launching in August focused on automotive service and heavy equipment technician training.

SALUS unveils safety assistant tool for mobile

SALUS has introduced the Construction Safety Assistant, a free mobile tool that lets construction crews quickly generate safety documents—including toolbox talks, safe-work procedures, risk assessments, pre-task plans, checklists and general safety Q&A—directly from their phones or tablets. The assistant draws on an AI engine called SALUS IQ, which is also embedded in the company’s paid safety-management platform that offers features such as instant digitization of paper forms, automatic translation of submissions, upcoming certificate verification and other AI-driven document and search capabilities.

Vector Construction, PULLMAN merge to form Vector Restoration

Vector Restoration—formed by merging the Canadian offices of PULLMAN with Vector Construction’s Canadian branches—now pools the expertise of both firms to repair and extend the life of buildings and civil infrastructure across the country. From its four offices, the company serves commercial, public, water-and-wastewater, power, industrial and transportation clients, using union agreements to tap a nationwide pool of skilled craftworkers that supplements its own full-time crews. Vector specializes in concrete repair, corrosion mitigation and structural preservation, and, as a licensee of Structural Technologies, combines proprietary products, engineering support and field services to deliver projects of any scale under the leadership teams familiar to existing customers.

Bird Infrastructure acquires Tin Knockers

Bird Infrastructure—an Ontario-based mechanical contractor that traces its roots to Jack Bird Plumbing & Heating in 1971—has bought the final 50% of Tin Knockers Custom, a Newmarket, Ont., sheet-metal and structural-steel fabricator, after taking an initial half-stake in 2021. The deal makes Tin Knockers a wholly owned subsidiary and folds its roughly 40,000-sq-ft plant and custom metal-fabrication capabilities into Bird’s integrated construction and fabrication operations in Ontario and Nova Scotia.

Contech startup wins $30,000 ‘Prize of the Prairies’

ConstructionClock, a Manitoba-based startup that automates hands-free time tracking for contractors, has won the inaugural $30,000 “Prize of the Prairies” at the 2025 Uniting the Prairies tech summit in Saskatoon. The award honours early-stage companies showing strong traction and growth potential, and the cash will help ConstructionClock expand the app that automatically logs site hours and gives contractors real-time labour-cost visibility.

BPA brings Ecovert into the fold

BPA has acquired sustainability consulting firm Ecovert and its controls-focused affiliate EcovertCx, adding more than 30 staff and 200-plus LEED projects’ experience to BPA’s growing Toronto operation. Founded in 2007, Ecovert delivers building certification, zero-carbon design, energy modelling, measurement-and-verification planning, and whole-building life-cycle assessments, while Kitchener-based EcovertCx handles lighting, boiler, rooftop-unit and integrated controls commissioning. The deal raises BPA’s Toronto sustainability group to over 50 professionals and follows recent local acquisitions in mechanical (TMP), electrical (HCC) and structural (Honeycomb, DKWatson) engineering.

White Cap to buy Raider Hansen

White Cap Supply Holdings has signed a definitive agreement to buy Cascade Raider Holdings Ltd. (Raider Hansen), a British Columbia distributor that operates eight tool, safety-gear and equipment branches, folding the business into White Cap Canada and enlarging its coast-to-coast footprint. The deal adds Raider Hansen’s local technical expertise to White Cap’s network of about 500 North American branches, 10,500 employees and 200,000 contractor customers, and supports the U.S. company’s strategy of expanding its specialty-construction-supply and safety-product offerings in the Canadian market.

Veerum raises $12M in Series B round

Calgary-based Veerum has raised $12 million CAD in a Series B round that closed March 26, led by Emerson Ventures and Veriten with follow-on support from BDC Capital and Evok Innovations. Founded in 2014, Veerum supplies “digital twin” software that lets energy, mining, construction and other heavy-asset operators inspect and manage sites remotely; the new capital will be used to add features, improve delivery for firms of varying sizes, and broaden its customer base. The company last raised $7.4 million in a 2021 Series A and says the latest funding positions it to make visual operations a standard tool across asset-intensive industries.

BBA adds adds two firms to enhance Canadian operations

BBA has expanded its national environmental consulting capabilities through the acquisitions of Groupe Synergis in Québec and CPP Environmental in Alberta, bringing over 180 professionals into its team. These firms add expertise in areas such as biophysical assessments, regulatory compliance, aquatic sciences, social acceptability, and landscape studies, strengthening BBA’s integrated approach to environmental and engineering services. The acquisitions enhance BBA’s ability to serve clients across Canada in sectors like energy, mining, and natural resources, while maintaining strong regional partnerships—including with Indigenous communities—and ensuring leadership continuity within the acquired firms.

CIMA+ buys Calgary-based firm B&A

CIMA+, one of Canada’s largest employee-owned engineering consultancies, has bought Calgary-headquartered B&A—an urban-planning, design and community-engagement firm with additional offices in Edmonton and Vancouver—effective May 1, 2025. The deal introduces a national urban-planning practice into CIMA+’s portfolio and strengthens its Western Canadian footprint, bringing B&A’s staff, reputation and project record under CIMA+’s umbrella of multidisciplinary services that already cover mechanical, electrical, structural and environmental engineering.

Englobe buys Nanaimo-based Herold Engineering

Englobe Corporation has bought Nanaimo-based Herold Engineering, a 70-person firm with offices in Victoria and Ucluelet that specialises in building, municipal, transportation and marine projects, including mass-timber and coastal concrete work. The deal gives Englobe its first foothold on Vancouver Island, completes a coast-to-coast Canadian presence, and keeps Herold operating as a separate division with its leadership team intact.

Maple Reinders luanches safety consulting advisory

Maple Reinders has launched Maple Safety Consulting, a service that offers smaller contractors customized help with safety orientation, training, documentation and compliance. The initiative builds on the company’s long-standing safety culture: Maple Reinders has been COR-certified in Ontario since 2012, fields a country-wide team of safety professionals, and plays an active role in the Ontario General Contractors Association and the League of Champions, whose board is currently chaired by the firm’s CEO. By formalizing this advisory arm, Maple Reinders aims to share its in-house practices and support peers in reducing incidents industry-wide.

Enbridge sells portion of pipeline to Indigenous group

Enbridge has agreed to sell a 12.5 % stake in its 2,900-km, 65-year-old Westcoast natural-gas pipeline system to the Stonlasec8 Indigenous Alliance—which represents 36 First Nations in British Columbia—for about C$715 million. The partnership will fund the purchase partly through a C$400 million federal loan guarantee issued by the new Canada Indigenous Loan Guarantee Corporation, the first deal under that program. The transaction, slated to close by the end of Q2 2025 once financing and other conditions are met, gives the participating Nations a long-term revenue stream from infrastructure on their territories and advances Enbridge’s strategy of offering equity stakes to Indigenous communities along its assets.

ZS2 releases Gen 2 low-carbon gypsum boards

Calgary-based ZS2 Technologies has started full-scale production of its second-generation magnesium-cement panels and boards, manufactured with a patented waste-to-cement process that uses Canadian industrial by-products and reduces embodied carbon to about one-third of conventional Portland cement. Backed by $9.9 million in government grants and third-party non-combustibility and fire-resistance certifications, the Gen 2 line is intended as a domestic alternative to gypsum board, OSB and imported MgO products; offerings include the TechTile raised-floor system for data centres. ZS2 says the material—already specified for projects in Alberta, California and elsewhere—is now available across North America to meet stricter fire codes and sustainability targets.

Wildstone purchases fruit-growing brand

Penticton-based Wildstone Capital has agreed to buy BC Tree Fruits’ intellectual property, equipment and Okanagan facilities for about $23 million, acquiring the cooperative’s familiar green-leaf logo and trademarks plus a packing plant in Oliver and receiving sites in Summerland and Keremeos. The deal follows last year’s dissolution of the 88-year-old growers’ co-op and will see Wildstone partner with Ontario’s Algoma Orchards to process fruit from local producers, keeping the BC Tree Fruits brand alive and restoring a marketing outlet for roughly 200 farming families across the valley.

VINCI acquires Peters Bros

VINCI Construction has finalised the acquisition of Peters Bros Construction Ltd, a paving company providing roadwork services and asphalt products in the province of British Columbia. The company registered an annual revenue of about $90 million in 2024. Founded in 1981 and based in the Okanagan Valley, Peters Bros employs 140 people at peak season and operates mainly in the BC interior region, with regular projects in the Dawson Creek, Williams Lake, Merritt, Kelowna and Penticton areas.

Concert purchases remaining stake in Concert-Bird Partners

‘Concert Infrastructure Fund (CIF) has bought Bird Capital Limited Partnership’s remaining 20% stake in Concert-Bird Partners, giving CIF full control of the concession that designed, built, financed, and now maintains five new high schools in Alberta under the P3 Schools Bundle 2 DBFM contract. Finished in May 2024 on time and on budget, the LEED-Silver-targeted campuses in Leduc, Blackfalds, Langdon and two Edmonton sites provide space for about 6,900 students and have already earned national P3 project awards; facilities-management duties remain with Ainsworth under the existing maintenance agreement.

Heidelberg buys southeast Calgary aggregates yard

Heidelberg Materials North America has purchased Concrete Crushers Inc.’s southeast-Calgary recycled-aggregates yard and its contract crushing fleet of four mobile plants, expanding the company’s local capacity to process and supply recycled concrete. The bolt-on deal enlarges Heidelberg’s footprint in the Calgary market, brings CCI’s employees onto its team and advances the firm’s strategy of growing circular and low-impact materials offerings within its core regions.

Key Takeaways:

• VINCI Construction has acquired Peters Bros Construction Ltd, a BC-based roadwork and asphalt company with $90 million in annual revenue, to expand its footprint in Western Canada.
• Peters Bros, known for quality and innovation, has delivered major infrastructure projects across BC and received provincial awards for projects incorporating recycled materials and complex traffic management.
• The acquisition supports VINCI’s long-term strategy to meet growing infrastructure demands in British Columbia, a province projected to see a 50% population increase by 2046.

The Whole Story:

VINCI Construction has finalised the acquisition of Peters Bros Construction Ltd, a paving company providing roadwork services and asphalt products in the province of British Columbia. The company registered an annual revenue of about $90 million in 2024.

Founded in 1981 and based in the Okanagan Valley, Peters Bros employs 140 people at peak season and operates mainly in the BC interior region, with regular projects in the Dawson Creek, Williams Lake, Merritt, Kelowna and Penticton areas.

The company has earned multiple awards for quality and innovation, including provincial recognition for its work on the Highway 97 CN railway tracks to Kiskatinaw Bridge near Dawson Creek, where it incorporated recycled asphalt and managed challenging traffic conditions.

Recent major projects include a $13.5 million resurfacing contract for a 61-kilometre stretch of the Alaska Highway near Fort Nelson, which features an Indigenous subcontracting component, and an $8.9 million contract to repave 33 kilometres of Highway 97 in the Okanagan, both set for completion in 2024.

VINCI says acquisition will strengthen its presence in Western Canada where it already operates in the Vancouver area, in Alberta and in Saskatchewan, allowing for greater synergies and operational capability. With the province’s population expected to grow by 50% by 2046, the acquisition will support British Columbia’s road infrastructure needs.

VINCI is a global company the specializes in concessions, energy solutions and construction, employing 285,000 people in more than 120 countries. They design, finance, build and operate infrastructure and facilities.

Key Takeaways:

• Corbell Private Capital has acquired a majority stake in RWC Systems, aiming to support the company’s strategic growth beyond Western Canada into a national presence, particularly targeting Eastern markets.
• RWC’s existing leadership team, including CEO Larry Robertson and his brother Rod, RWC director, will remain in place. Both companies are aligned on maintaining RWC’s strong culture, customer-first approach, and long-standing employee loyalty while scaling operations.
• Corbell brings not only capital but also operational expertise and a national network of trade partners. This partnership positions RWC to tap into rising demand in the residential and commercial construction sectors across Canada.

The Whole Story:

RWC Systems Inc. and Corbell Private Capital, a Toronto-based private equity firm, have announced a new partnership as Corbell acquires a majority stake in RWC Systems. 

It represents a special moment for RWC, which was started by Garth Robertson 47 years ago in a shed. It also is the beginning of RWC’s ambitous plans to expand far beyond Western Canada. 

“This is a huge milestone and it’s setting the business up for success,” said Larry Robertson, Garth’s son and RWC Systems CEO. “To get to this milestone has been a lot of hard work and it was done very strategically over the last 3 to 4 years. And it’s a big reward, but I think there’s a need in the market for what our vision is and we’re going to make sure we fill that gap and can offer our customers the RWC experience on the East Coast and all across the country.”

Headquartered in B.C., RWC Systems is known for its expertise in delivering large-scale drywall and interior systems for commercial, institutional, and healthcare clients. Past projects include Mills Memorial Hospital, Royal Columbian Hospital, St. Paul’s Hospital, The Stack in Vancouver, Amazon’s Vancouver headquarters, LNG Canada and Oakridge Centre.

Over the last few years, the company has expanded throughout B.C., doing projects in the Okanagan and Northern B.C. They are also currently doing a major project in Saskatchewan, the new Prince Albert Victoria Hospital.

“RWC has built an outstanding business under Larry and Rod’s leadership, with a reputation for excellence, a highly regarded management team, and a proven ability to scale,” said Eric Persi, Managing Partner at Corbell Private Capital. “We’re proud to invest in RWC, and we’re excited to collaborate closely with the existing management team, customers, and suppliers. Our goal is to support RWC’s national growth and strengthen its capabilities—while staying true to the company’s core values and customer-first approach.”

Larry, his brother, RWC Director Rod Robertson, and their leadership team will remain with RWC as it collaborates with Corbell on a growth strategy. 

“We will probably be a bit more strategic with what our leadership team is focused on as well as deepening those customer relationships and transferring them down to other members of the team,” said Larry. “We have people who have worked for us for 27 years and a lot of our top lead site leadership have been with us for 15 years or more … I think we’ve been a big promoter of recognizing people and what they accomplish and what they do for your business and then also giving them the autonomy to do something in your business and cutting those mooring lines with people and just letting them loose to do it. It’s amazing what can happen.”

Corbell Private Capital will provide strategic support, capital resources, and operational expertise to help accelerate RWC’s expansion, particularly into Eastern Canada, where growing demand for residential and commercial construction presents new opportunities. Corbell’s investment also brings access to a network of trade partners across the country.

“They have a vision for RWC that very importantly was the same vision Rod and I had,” said Larry. “We were kind of looking at a mountain going, how are we going to climb this? There’s a need. We’re both relatively young and we still have fire in the belly.”

Together, RWC Systems and Corbell are aligned in a shared vision to become the most distinctive and efficient commercial wall and ceiling company in all of Canada. RWC stated that the partnership ensures continuity for existing clients while unlocking new potential to deliver on a larger scale, without compromising the quality and service RWC is known for.

“We built a legacy and the most important part of it too is that Corbell recognizes that and they just want to build on that,” said Larry. “So, how we go about expanding Eastern Canada, we haven’t quite figured out yet, but we will.”

Key Takeaways:

• The Act aims to reduce housing costs and accelerate construction by standardizing and simplifying development charges, building standards, and approval processes across Ontario’s 444 municipalities—addressing long-standing delays and inconsistencies
• Ontario is injecting an additional $400 million into the Housing-Enabling Water Systems Fund (HEWSF) and the Municipal Housing Infrastructure Fund (MHIP), bringing the total to nearly $2.3 billion over four years, to support housing-related water and infrastructure projects that enable the construction of hundreds of thousands of new homes.
• The legislation reflects extensive consultations with municipalities and industry stakeholders like the Ontario Home Builders’ Association, which applauds the focus on reducing development charges and permitting delays—two major contributors to high housing costs in Ontario.

The Whole Story:

Ontario is introducing the Protect Ontario by Building Faster and Smarter Act, 2025 to help speed up the construction of new homes and infrastructure, including by streamlining development processes and reducing costs in close partnership with municipalities.

The province is also increasing its investment in housing-enabling infrastructure by adding $400 million in immediate funding to the Housing-Enabling Water Systems Fund (HEWSF) and Municipal Housing Infrastructure Fund (MHIP) for a total of nearly $2.3 billion over four years across the HEWSF and the MHIP.

“We are taking bold action to protect Ontario in the face of economic uncertainty by speeding up construction so we can lower housing costs and keep workers on the job,” said Rob Flack, Minister of Municipal Affairs and Housing. “The legislation we’re tabling today responds to recommendations and requests from municipal leaders, and will help build the homes and infrastructure Ontario needs.”

The Protect Ontario by Building Faster and Smarter Act, 2025, if passed, and related actions would:

• Spur new construction by simplifying and standardizing development charges based on measures that were developed in consultation with municipalities, including measures that some municipalities have already implemented.
   
• Remove barriers for Canadian manufacturers who want to introduce innovative materials, systems and building designs that could reduce construction costs and expedite projects.
   
• Streamline and improve planning and delivery for transit-oriented communities, creating more jobs and housing options near transit.
   
• Reduce costs and speed up project approvals with consistent building construction standards across Ontario municipalities.
   
• Significantly speed up getting shovels in the ground to build major transit projects by extending measures in the Building Transit Faster Act, 2020 to all provincial transit projects.
   
• Simplify, streamline and bring consistency and transparency to development applications, land use planning approvals, and contents of municipal official plans. These changes would make it easier and faster to build residential, commercial and industrial buildings within and across Ontario’s municipalities.
   
• Ontario’s road building standards can differ across the province’s 444 municipalities, causing unnecessary cost and delays. The province will consult with municipalities and stakeholders by fall 2025 on framework legislation for greater harmonization and clarified governance of municipal standards.

“We are pulling out all the stops to protect and build up Ontario during this time of economic uncertainty,” said Kinga Surma, Minister of Infrastructure. “Our expanded investments will ensure we can build even more homes, create more jobs and protect the most critical infrastructure that people depend on every day.”

Through HEWSF, the province has already allocated nearly $1.3 billion for water and waste-water infrastructure projects that will enable the construction of approximately 600,000 homes. Ontario has also invested approximately $700 million in MHIP. Combined with the new $400 million ($315 million for HEWSF and $85 million for MHIP) this brings the new total investment to nearly $2.3 billion.

“I applaud Premier Ford, Minister Flack, and the Government of Ontario for taking bold and creative action to address the housing crisis,” said Steven Del Duca, Mayor for the City of Vaughan. “The status quo simply isn’t working, and families across Ontario — including mine — deserve to see real change. I want my kids to have the opportunity to own a home in the city where they grew up. In Vaughan, we’re doing our part by reducing development charges by 50 per cent and using every tool available to get more homes built, faster. I welcome the province’s leadership in cutting red tape, standardizing approvals, and building a more efficient, affordable future for all Ontarians.”

Through the Building Faster Fund, the government has also provided municipalities with $286.8 million for community and housing-enabling infrastructure last year, along with $120 million dedicated for small, rural and Northern municipalities without housing targets which is being delivered through the HEWSF and MHIP. This is in addition to the $1 billion in flexible loans for housing-enabling water infrastructure projects available to municipalities through the Infrastructure Ontario Loan Program.

“I’m grateful for the province’s leadership in introducing these much-needed measures to address the housing crisis,” said Carolyn Parrish, Mayor for the City of Mississauga. “Municipalities cannot tackle this challenge alone — we need support like this to cut red tape, streamline approvals, and create the conditions for faster, more affordable housing development. Mississauga’s Housing Task Force has demonstrated that bold reforms and innovative policies can drive real progress, and these provincial measures will encourage cities across Ontario to accelerate their own housing initiatives. This kind of collaboration across all levels of government is critical to meeting the urgent housing needs of our residents and building a more sustainable future for residents all over Ontario.”

The Ontario Home Builders’ Association (OHBA) responded to the announcement, say they were optimistic about the legislation. The group noted that it targets two of the most significant drivers of high housing costs: development charges and permitting and approval delays. Builders across Ontario have long advocated for action on these barriers, which in many cases add hundreds of thousands of dollars to the cost of a new home.

The bill comes after months of consultation with OHBA representatives and other industry experts who
shared data-driven evidence on the impact of development charges and delays.

“I’m very pleased by the level of engagement and representation from industry that was part of this process,” said Andison. “We need all hands on deck to tackle the housing crisis, and I’m happy to know that Minister Flack understands that and sees value in having industry be part of the conversation. This legislation is a strong step towards boosting supply, restoring affordability, and protecting jobs in the residential construction sector.”

In particular, the bill aims to stimulate new home construction by implementing policies developed with municipalities to standardize development charges. Currently, government fees and taxes account for roughly 30-35% of the cost of a new home, making the government at different levels the biggest financial beneficiary of a new home purchase.

Development charges account for about half of that cost and have increased dramatically over the last decade. The Greater Toronto Area has the highest development charges in North America, which have risen 176% since 2011, continuing to rise while we face the worst housing crisis the province has ever seen. Builders have long called for provincial action to reduce them

The bill also looks to streamline the permitting and approval process for new developments by bringing consistency to a process that varies across the 444 municipalities in Ontario. This includes standardizing how local roads are designed and built to speed up construction and reduce costs for builders and home buyers. Like development charges, delays at the municipal level have a tangible impact on house prices, adding thousands of dollars per day to project costs.

“Ontario’s current housing framework is failing to meet the needs of average households, with homeownership increasingly out of reach and younger generations leaving the Greater Toronto Area in search of attainable living options,” said Kirstin Jensen, Vice President of Policy, Advocacy, and Relationships at OHBA. “The legislative package introduced by Minister Flack represents a strong and necessary advancement toward restoring attainable housing in the province. Continued leadership of this nature—anchored in evidence-based policy and strong government-industry collaboration—will be critical to meaningfully addressing Ontario’s housing supply and affordability challenges.”

Key Takeaways:

• The province has approved construction of the first of four SMRs at the Darlington site, marking a historic milestone as the first SMR project in a G7 country. Once complete, the four reactors will generate enough clean electricity to power 1.2 million homes.
• The SMR project is expected to create up to 18,000 Canadian jobs and contribute $38.5 billion to Canada’s GDP over 65 years, with 80% of project spending targeted for Ontario-based companies.
• With Ontario’s electricity demand projected to rise by at least 75% by 2050, SMRs are being positioned as a low-emissions, reliable baseload solution to bridge the anticipated power gap and support long-term energy security.

The Whole Story:

Ontario is set to make history with the launch of Canada’s—and the G7’s—first small modular reactor (SMR), as the province moves aggressively to secure its energy future and meet a projected 75% surge in electricity demand by 2050.

The full project scope includes the construction of four small modular reactors (SMRs) at the Darlington nuclear site.

Once complete, this SMR will be the first of its kind in the G7, producing enough electricity to power the equivalent of 300,000 homes, supporting thousands of good-paying jobs across the province and helping secure Ontario’s energy supply for decades to come.

The construction of the four units will support the government’s plan to protect Ontario’s workers and economy by creating up to 18,000 Canadian jobs and injecting $500 million on average annually into Ontario’s economy. The construction, operation and maintenance of the four units are expected to add $38.5 billion to Canada’s GDP over the next 65 years. Officials say they are working with OPG to ensure that 80% of project spending goes to Ontario companies and that construction and operations will protect Ontario workers and jobs by sustaining an estimated 3,700 highly-skilled, good-paying jobs for the next 65 years.

“This is a historic day for Canada as we start construction on the first small modular reactor in the G7, creating 18,000 jobs for Canadians,” said Stephen Lecce, Minister of Energy and Mines. “This nation-building project being built right here in Ontario will be led by Canadian workers using Canadian steel, concrete and materials to help deliver the extraordinary amount of reliable and clean power we will need to deliver on our ambitious plan to protect Ontario and unleash our economy.”

The BWRX-300 is a small-scale nuclear reactor that uses commercially available uranium to generate power. The four SMRs will be vital to powering new homes, historic investments to build Ontario and fuel a thriving economy. Once complete, they will produce 1,200 megawatts (MW) of electricity, enough to power the equivalent of 1.2 million homes, to help bridge a power gap that could emerge in the early 2030s in the absence of net-new baseload power sources added to the grid.

More than eighty Ontario companies have already signed agreements with OPG to deliver this first-of-a-kind project, establishing themselves as leaders in the growing domestic and global markets for new nuclear technologies. The government has also negotiated additional commitments from GE Hitachi that will create jobs in Ontario, that will soon be unveiled.

Ontario’s Independent Electricity System Operator (IESO) concluded that the Darlington New Nuclear Project is the best option to meet growing demand in terms of costs and risks, when compared against non-emitting generation alternatives. This, combined with OPG’s track-record on the Darlington Refurbishment Project, factored into the government’s decision to support the Darlington New Nuclear Project.

Within Canada, the Ontario government and OPG are collaborating with power companies in Alberta, Saskatchewan and New Brunswick as they work towards the deployment of SMRs in their jurisdictions. Around the world, the government has helped secure job-creating agreements that deploy Made-In-Ontario components to build SMR’s for the world.

Key Takeaways:

• As of April 1, Manitoba’s new regulation mandates timely construction payments to ensure funds flow efficiently through the project chain, protecting contractors, subcontractors, and suppliers.
• The regulation includes a new adjudication authority to resolve payment disputes quickly, outlining clear processes and responsibilities to minimize project disruptions.
• The changes aim to strengthen Manitoba’s construction sector—particularly small and medium-sized firms—by reducing financial risk and enabling continued investment and hiring, including apprentices.

The Whole Story:

Manitoba government’s prompt payment regulation, which facilitates the timely flow of construction payments, has come into force as of April 1, Public Service Delivery Minister Mintu Sandhu announced.

The law establishes mandatory 28-day payment timelines for owners, seven-day cascading payments down the contracting chain, and adjudication for disputes

“Construction projects are complex and involve many parties, including owners, contractors, sub-contractors, engineers, labourers and material suppliers, and often conflicts between these parties can result in withholding funds,” said Sandhu. “These regulations make sure the local contractor at the end of the chain is protected, as they are often the one who are affected by delayed payments.” 

The prompt payment regulation addresses concerns from the construction industry about delayed payments causing problems through project payment chains, noted the minister, adding this ensures orderly and timely construction projects occur by avoiding the disruptive effect of non-payments. 

“The establishment of an adjudication framework and authority were important steps taken by this government,” added Sandhu. “The construction sector is vulnerable to the impact of delayed payments because of the tiered payment structure and these changes will reduce the risk of disruptions to projects while ensuring sub-contractors and suppliers can continue to pay bills and their workers.” 

The regulations set out the duties and powers of the adjudication authority including details about payment and adjudication, process in the event of non-payment, requirements for adjudicators and other matters concerning the conduct of an adjudication. 

“Our industry is thrilled to see the creation of a construction prompt payment system in Manitoba and the launching of the new prompt payment adjudication authority,” said Ron Hambley, president, Winnipeg Construction Association. “We were pleased to collaborate with the Manitoba government and dedicated industry professionals to create an adjudication authority that will provide oversight and guidance as the industry adjusts to this new system. Construction payments that are withheld place contractors, especially smaller contractors, at great financial risk and we are confident that the prompt payment system in Manitoba will work to address these concerns.”  

The construction industry is a significant contributor to Manitoba’s economy and includes many small- and medium-sized companies where delayed payments would limit their ability to invest and hire apprentices, added the minister.   

Manitoba’s journey to implement prompt payment legislation began with two unsuccessful attempts in 2018 (Bill 218) and 2019 (Bill 245), both titled The Prompt Payments in the Construction Industry Act, aimed at reducing financial risks for contractors and subcontractors. After years of advocacy, Bill 38 (The Builders’ Lien Amendment Act) was introduced in 2023, received Royal Assent on May 31, 2023.

Key Takeaways:

• Dow has postponed construction of its $8.9 billion Path2Zero project in Fort Saskatchewan, Alberta, citing current macroeconomic challenges and a focus on financial discipline. As a result, its 2025 capital expenditures are being reduced from $3.5 billion to $2.5 billion.
• Despite the delay, Dow remains committed to completing the world’s first net-zero Scope 1 and 2 emissions ethylene cracker and derivatives facility. The project will use technologies like hydrogen fuel, carbon capture, and cogeneration to decarbonize 20% of Dow’s global ethylene capacity and increase polyethylene production by 15%.
• When completed, the project is expected to generate 7,000–8,000 construction jobs and 400–500 permanent positions. It is also backed by substantial government support, including $1.8 billion from Alberta’s Petrochemicals Incentive Program and up to $400 million in federal tax credits for clean technologies.

The Whole Story:

Following a comprehensive review, Dow has decided to delay construction of its Path2Zero project in Fort Saskatchewan, Alberta, Canada until market conditions improve. The Company now expects Dow’s total enterprise 2025 CapEx to be $2.5 billion compared to its original plan of $3.5 billion.

In its first quarter results report, Dow stated remains committed to the project and the growth upside it will enable in targeted applications like pressure pipe, wire and cable, and food packaging. The project is being built at an existing Dow site in a significantly cost-advantaged region. It is expected to be a first quartile asset with attractive returns and the added benefit of being the world’s first net-zero Scope 1 and 2 emissions integrated ethylene cracker and derivatives facility.

“We remain focused on disciplined execution and increased actions to improve profitability and support cash flow,” said Jim Fitterling, Dow chair and CEO. “Despite ongoing macroeconomic challenges, Team Dow delivered a sixth consecutive quarter of year-over-year volume growth while taking actions to reduce costs and right-size capacity. The significant impact of slower GDP growth and volatile market conditions on our industry underscores the importance of our proactive management and best-owner mindset. Today’s announcements build on Dow’s cost actions that are already underway, aiming to further strengthen our financial flexibility and support a balanced capital allocation approach.”

In the results report, company officials noted net sales were $10.4 billion, down 3% year-over-year, reflecting declines in all operating segments. 

Edmonton builders react with disappointment

The local construction industry was quick to react, noting the impact it will have on workers and businesses.

“The Edmonton Construction Association is disappointed by Dow’s recent decision to delay construction of the Path2Zero project in Fort Saskatchewan,” said David Johnson, President, Edmonton Construction Association. “Our industry, and the skilled trades workers our members employ, had been hoping for different news. This has been billed as a world-leading, net-zero petrochemical facility, and at nearly $9B, it would be one of the most significant industrial investments in Alberta’s history.”

Johnson noted that the project had strong support from the Government of Alberta, industry, and, most importantly, from the skilled tradespeople of Alberta. This decision delays economic growth and employment in the Edmonton region. However he was encouraged by Dow’s reaffirmed commitment to the project.

“Projects of this scale require time, planning and perseverance. Final investment decisions aren’t made lightly and require the right market conditions, which are uncertain right now,” said Johnson. “There’s no question this decision will have an immediate impact on local contractors, skilled tradespeople, suppliers, and construction professionals who have been preparing to support the project.”

Path2Zero would be a world-first

The Path2Zero project is a pioneering industrial initiative located in Fort Saskatchewan, Alberta, within the province’s Industrial Heartland near Edmonton. Its central objective is to establish the world’s first net-zero emissions integrated ethylene cracker and derivatives site. This means the facility is designed to eliminate direct greenhouse gas emissions from its operations (Scope 1) as well as emissions from purchased energy (Scope 2), setting a new global standard for the petrochemical industry.

To achieve these ambitious environmental goals, the project will employ a combination of advanced technologies, including hydrogen-fueled processes, carbon capture and sequestration, and power and steam cogeneration. Once operational, the expanded site will be capable of producing approximately 3.2 million metric tonnes of low- to zero-emissions polyethylene and ethylene derivatives each year, effectively tripling Dow’s current production capacity at this location. This expansion is significant not only for its scale but also because it will decarbonize about 20% of Dow’s global ethylene capacity and increase its polyethylene supply by 15%.

The Path2Zero project is being developed in two phases, with the first phase originally scheduled to begin operations in 2027 and the second phase in 2029. Prior to the delay, the full project was anticipated to be completed by 2031.

Economically, the project represents a major investment of approximately $8.9 billion, supported by significant incentives from both the provincial and federal governments. The Alberta Petrochemicals Incentive Program is contributing around $1.8 billion, and federal tax credits for carbon capture and clean hydrogen could add up to $400 million. At its peak, the construction phase is expected to create between 7,000 and 8,000 jobs, with 400 to 500 permanent full-time positions once the facility is operational.