CALGARY, AB and RICHMOND, BC, May 17 /CNW/ - The Churchill Corporation ("Churchill") and Seacliff Construction Corp. ("Seacliff") today announced they have entered into an agreement whereby Churchill will acquire Seacliff, one of Western Canada's most diversified construction companies. Seacliff is a recognized leader in providing general contracting, electrical and earthmoving services, through three distinct and independently operated business units with 24 locations within five provinces.
"We believe that the addition of Seacliff to the Churchill family will take our services to a higher level, enabling the company to access new markets both in building construction and industrial services," said Jim Houck, President and Chief Executive Officer of Churchill. "We're creating an unparalleled company leveraged to institutional and commercial construction, which is operationally diversified across many business lines, regions and customers."
Seacliff brings almost a century of diversified industry expertise, specifically adding value to Churchill as a leader in electrical and data communications and heavy construction. This combination creates an organization with greater size, scale and scope which will allow Churchill to pursue larger projects and provide a broader service offering to its customers.
"We were attracted to Seacliff for the strategic fit and natural operational synergies," said Houck. "Additionally, the ability to pool talent and resources will allow us to create a more diversified electrical services group and ultimately realize common goals."
Established in 1981, Churchill has built a solid reputation as one of Western Canada's leading contractors in construction and industrial services. Based in Calgary, Alta., Churchill's operating subsidiaries include Stuart Olson Construction Ltd., Insulation Holdings Inc., and Laird Electric Inc.
With the combination of the two companies, Churchill will employ approximately 3,304 people during peak construction, consisting of approximately 612 full-time salaried employees and 2,692 hourly employees.
About The Churchill Corporation
The Churchill Corporation provides building construction, industrial insulation and electrical contracting services throughout Western Canada. Churchill common shares are listed on the Toronto Stock Exchange under the symbol "CUQ".
About Seacliff Construction Corporation
Seacliff provides general contracting services, electrical contracting and earthmoving services to a wide array of clients in both the public and private sectors, with a majority of its business derived from institutional, commercial, civil and light industrial construction projects. Seacliff is headquartered in Vancouver, BC and operates 22 locations in British Columbia, Alberta, Saskatchewan and Manitoba, as well as two locations in Northwestern Ontario. Seacliff's business is conducted through three business units: Dominion Construction, a general contractor; Canem Systems, an electrical contractor and Broda Construction Group, a Saskatchewan-based earthmoving and heavy civil construction contractor. Seacliff's common shares are listed on the Toronto Stock Exchange under the symbol "SDC".
SOURCE Stuart Olson Inc.
For further information: For further information: Andrew Apedoe, Vice President Investor Relations & Secretary, The Churchill Corporation, Bus: (403) 685-7775, Email: firstname.lastname@example.org, www.churchillcorporation.com