Logotype for Bird Construction Inc

Bird Construction (BDT) M&A Announcement summary

Event summary combining transcript, slides, and related documents.

Logotype for Bird Construction Inc

M&A Announcement summary

8 Jul, 2026

Deal rationale and strategic fit

  • Acquisition of FRPD expands national infrastructure presence, adding marine construction, land foundation, and dredging expertise, and enhances cross-selling and self-perform capabilities.

  • Aligns with strategy to diversify revenue, enhance full-service offerings, and balance the portfolio across Industrial, Buildings, and Infrastructure.

  • Provides access to a highly experienced workforce, strong client relationships, and supports seamless integration and future growth.

  • Positions the company to capitalize on high-demand sectors like port expansion, transportation, energy, and nation-building projects across Canada.

  • Aligns with M&A strategy targeting high-performing, culturally aligned, complementary businesses.

Financial terms and conditions

  • Aggregate consideration for the acquisition is CAD 82.3 million, funded through a new term debt facility and supported by a new $215.6–$216 million term loan.

  • FRPD will be acquired on a cash-free, debt-free basis.

  • The transaction reflects an implied purchase multiple of 4.1x projected 2025 adjusted EBITDA.

  • FRPD expected to generate $160M in revenue and $20M in Adjusted EBITDA annually.

  • Transaction expected to be accretive to Adjusted EPS by 7% on a full-year basis.

Synergies and expected cost savings

  • Revenue synergies expected from cross-selling and partnership opportunities, enabling pursuit of larger, more complex projects.

  • Cost synergies anticipated in areas like insurance and procurement, leveraging purchasing power.

  • Margin expansion expected through improved project mix, recurring work, and self-perform capabilities.

  • Strong backlog and pipeline, plus long-term contracts, expected to support further Adjusted EBITDA growth.

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