Harris Steel Group Inc. announced the signing of agreements to acquire three businesses under separate transactions, each of which supply rebar installation services in Alberta and/or British Columbia.
The three companies are Universal Group of Steel Companies, Windance Reinforcing, and Northwest Reinforcing Ltd.
"In Canada and the Southwestern United States, we sell rebar on an installed basis," explained John Harris, CEO and chairman of Harris Steel Group. "In Western Canada, we have since 1996 sub-let the installation component to a group of sub-contractors, but principally these three companies. Our industry faces persistent labor shortages which are exacerbated in Western Canada by the strength of the energy and commodity cycles. These investments offer not only an attractive return, but will allow us to enhance a seamless service experience for our customers."
All three transactions are expected to close within the next thirty days.
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