On October 5, 2022, Ocean Group announced the closing of its acquisition of Shipyard Verreault, a major ship repair and transformation facility located in Les Méchins, Quebec. Established in 1956 by Captain Borromée Verreault, the shipyard plays a vital role in the Quebec and Canadian maritime industry. Although the transaction value was not disclosed, the acquisition significantly strengthens Ocean Group’s capacity and technical expertise as it positions for larger-scale projects, including those arising from the federal National Shipbuilding Strategy (NSS). The deal also includes the acquisition of two Verreault tugs servicing the Les Méchins and Matane docks. This strategic move supports Ocean Group’s long-term growth plan and reinforces its presence in Canada’s shipbuilding sector, building on its successful contract to construct four large tugs for Canadian National Defence.

BCF acted as legal counsel to Ocean Group in the transaction, with a team comprising Nicolas St-Sauveur, Pierre Lamontagne, Marie-Pier Baril, Laurence Lavertu, Audrey St-Pierre, Dominique Babin, Alex Harvey, and Sophie Boulanger (Business Law/Mergers and Acquisitions); Anne-Frédérique Bourret, Odette Nadon, and Jonathan Coulombe (Environment, Administrative and Municipal); Vanessa Gendron and Marianne Tardif (Notary); and Chantal Mongrain and Julie Tremblay (Corporate Services).