Aecon Utilities Group Inc., a subsidiary of Aecon Group Inc., has acquired a majority interest in Xtreme Powerline Construction, an electrical distribution utility contractor, in a deal valued at approximately $100 million (US$73 million).

The Transaction is being financed through Aecon Utilities’ standalone committed revolving credit facility.

Toronto Dominion Bank and Canadian Imperial Bank of Commerce acted as co-lead agents on behalf of a syndicate of lenders on Aecon Utilities’ standalone committed revolving credit facility.  Davies Ward Phillips & Vineberg LLP served as legal counsel to Aecon Utilities.

Cascade Partners was Xtreme Powerline Construction’s exclusive financial advisor, and Varnum LLP served as its legal advisor.