Hillcore Industrial announces majority ownership transition of Academy Group

EDMONTON, AB, Jan. 20, 2026 /CNW/ - We are pleased to announce that Hillcore Industrial has successfully completed the divestiture of its majority interest in the Academy Group of Companies (collectively, "Academy"), a full-service industrial and pipeline fabricator based in Alberta, to Academy's existing management team. The transaction aligns ownership with operational leadership and supports Academy's long-term strategic direction, building on Hillcore's original acquisition of Academy in March 2017.

Academy's management team brings decades of experience in industrial fabrication, engineering, and project execution, creating a strong foundation for continued growth. Their full ownership stake reflects confidence in Academy's strategic direction and the future opportunities available to the business.

"We've been proud to support Academy during an important phase of its growth," said Greg Tedesco, Managing Director & CFO of Hillcore Industrial. "Our partnership with Academy has been productive and collaborative and we have come to a point where we are more focused on growing our other existing fabrication and construction platforms. The new management team has demonstrated strong operational capability and a clear plan for the company's future. We believe this transition will position Academy well for long-term success."

Hillcore has worked closely with Academy's new leadership to ensure a seamless transition that maintains continuity for employees, customers, and partners. Supporting this transaction aligns with Hillcore's approach of backing strong operators and enabling ownership structures that best serve the business and its stakeholders.

Kyle Van de Veen, President & Chief Executive Officer of Academy, attributes the purchase of the company to the existing team and partnerships: "First and foremost, I need to recognize all employees and equity partners under Academy. Without our hardworking trade workers and trusted support departments, I would not have the foundation needed to make this acquisition. Providing world-class piping and structural steel components is far from an easy feat, and we rely wholeheartedly on our dedicated team to meet our client's expectations. Our focus is to grow sustainably, with every step focused on developing good, talented people along the way. Through restructuring, developing, and mentoring, we have made one heck of a team at Academy! We would like to thank the Hillcore team for being great managing partners during their period of ownership, and we look forward to continuing our relationship during this next stage to the benefit of both parties."

About Academy Group

Academy has collaborated to provide quality piping and structural solutions for some of the most respected leaders in the oil and gas industry including EPC firms, midstream operators, national pipeline and mine operators, general contractors, global industrial gas producers, and most recently technology companies related to nuclear, solar and data.

About Hillcore

Hillcore Group is an active purchaser and operator of various businesses across Canada, with a focus on backing management buyouts.

Hillcore invests predominantly in real estate, seniors living, industrial, logistics, forestry, and energy sectors. We have head offices located in Toronto and Vancouver. Through our various groups and portfolio companies, we employ more than 7,500 people throughout Canada. Entities under our management have an asset value in excess of $5 billion. www.HillcoreGroup.com

Hillcore Industrial maintains a portfolio of privately held operating companies that are redefining the industrial landscape across a wide variety of sectors. www.HillcoreIndustrial.com 

SOURCE Hillcore Industrial

For Further Information: Academy Group of Companies, https://www.academyfabricators.ca/; Hillcore Industrial, [email protected]; Hillcore Group, [email protected]