Core Viewpoint - Bird Construction Inc. has announced the acquisition of Fraser River Pile & Dredge for an estimated total consideration of $82.3 million, which is expected to enhance Bird's capabilities and growth potential in the infrastructure sector [2][10]. Company Overview - Fraser River Pile & Dredge (FRPD) is Canada's oldest and largest privately-owned marine construction, land foundation, and dredging company, founded in 1911, with over 300 skilled personnel [3]. - FRPD has a strong reputation for safety and quality, with experience in significant projects across Canada, including infrastructure support, dredging, and marine environmental remediation [3]. Strategic Highlights - The acquisition is expected to provide Bird with enhanced self-perform capabilities and a more comprehensive platform for larger-scale projects across Canada [4][5]. - FRPD's expertise in marine infrastructure and land foundation complements Bird's existing capabilities in industrial, infrastructure, and buildings sectors [4][8]. - The combined company is positioned to capitalize on the growing demand for infrastructure projects, including those related to transportation, trade, defense, and energy [6]. Financial Highlights - The estimated cash consideration of $82.3 million will be funded through a new term debt facility, with Bird maintaining its low leverage practice post-transaction [10][11]. - The acquisition is expected to be accretive to Bird's Adjusted Earnings Per Share by approximately 7% on a full-year basis, with potential for further growth from synergies [12][13]. - On a pro forma basis, FRPD is projected to generate approximately $160 million in revenue and $20 million in Adjusted EBITDA [13]. Transaction Approvals - The acquisition is subject to approval under the Competition Act (Canada) and other customary closing conditions, with an expected completion in early Q4 2025 [14]. Investor Communication - Bird will host an investor call to discuss the transaction on September 4, 2025 [15].