Hangingstone Ventures has been acquired by Infracon Construction
March 2023 — The shareholders of Hangingstone Ventures Ltd. (HSV) have sold the company to Infracon Construction Inc.
HSV is a hydro-vac and air-vac service company operating in western Canada with locations in Alberta and British Columbia, efficiently mobilizing crews and equipment to its clients’ work sites. HSV provides single-axle and tri-axle hydro-vac services and air excavation technology to a wide range of clients in the infrastructure, pipeline, utility and oil and gas industries.
Based in British Columbia, Infracon is a group of specialty construction companies involved in the heavy civil, pipeline, welding and construction materials business in western Canada. It is one of the fastest growing construction groups in the country, with a year-over-year average revenue growth of over 65%. The group has grown from revenues of under US$30 million in 2018 to over US$180 million in 2022.
Our role in the transaction
Oaklins’ team in Canada acted as the sole sell-side financial advisor in this transaction.
Greg MacMillan
Founder and Owner, Hangingstone Ventures Ltd.
Talk to the deal team
Related deals
Nymann Kloak- & Miljøservice has been acquired by Serwent Group
Nymann Kloak- & Miljøservice has been acquired by Serwent Group. The acquisition expands Serwent’s footprint in Denmark while broadening its service offering and strengthening capacity across its existing platform. This transaction further supports Serwent’s ambition to become the leading Nordic operator in underground infrastructure maintenance.
Learn moreGeralseg Internacional has divested 80% of Geralseg to Horizon Equity Partners
The shareholders of Geralseg have successfully divested an 80% stake in the company to Horizon Equity Partners. Horizon’s investment will support Geralseg in its next phase of strategic growth, focused on capturing market opportunities driven by rising demand for electronic security solutions, strengthening its technical and service capabilities and consolidating its expansion across Portugal.
Learn moreTA Associates has completed a sell-down of its stake in Eurowag
TA Associates has completed a US$40 million accelerated bookbuild (ABB), selling approximately 4.3% of its shareholding in W.A.G. payment solutions AS (Eurowag) through a secondary offering on the London Stock Exchange. The transaction formed part of the private equity sponsor’s continued partial exit following its investment in Eurowag in 2015. The offering attracted strong demand from international institutional and Czech investors, resulting in a successful placement at US$1.33 per share, a 7.4% discount to the previous close and a 2.2% discount to the one-month volume-weighted average price (VWAP).
Learn more