Trading in Aecon Group Inc. shares resumed on the Toronto Stock Exchange (TSX) on June 26, 2026, at 8:00 AM ET. The Canadian Investment Regulatory Organization (CIRO) lifted the suspension for all issues of the company, which trades under the symbol ARE. The resumption follows a temporary halt implemented to maintain a fair and orderly market.

CIRO, the national self-regulatory organization overseeing investment dealers and trading activity on debt and equity marketplaces in Canada, has the authority to impose temporary suspensions. These halts are designed to ensure market integrity and protect investors. The decision to resume trading indicates that CIRO's concerns have been addressed.

Aecon Group Inc. is now fully tradable across all its listed securities. Investors can resume buying and selling shares without restrictions. The resumption marks a return to normal trading operations for the company on the TSX.

Key Details

CIRO's role includes monitoring trading activity and taking necessary actions to uphold market standards. The resumption of trading for Aecon Group Inc. aligns with its mandate to ensure a transparent and efficient marketplace.

Aecon Group Inc. agreed to purchase the convertible preferred equity investment held by funds managed by Oaktree Capital Management, L.P. in its utility infrastructure subsidiary, Aecon Utilities Group Inc. The transaction, valued at $320 million, secures Aecon's 100% interest in Aecon Utilities and implies an equity value of $1.2 billion and an enterprise value of $1.5 billion for the subsidiary. Closing is expected in the fourth quarter of 2026.

The purchase price is based on Oaktree's as-converted 27.5% ownership interest. The transaction implies a 13.0x enterprise value multiple to Aecon Utilities' trailing twelve-month acquisition-related pro forma Adjusted EBITDA to March 31, 2026. Aecon intends to fund the acquisition using existing cash resources and available credit facility capacity.

Strategic Benefits

Jean-Louis Servranckx, President and Chief Executive Officer of Aecon, stated that the transaction accelerates growth in target markets and enhances the company's ability to expand into regions with attractive project pipelines under a One Aecon approach. The move is expected to be accretive to adjusted earnings per share and simplifies Aecon's capital structure.

Aecon Utilities operates across electrical, communications, and pipeline distribution end-markets. Since Oaktree's investment in Q4 2023, the subsidiary has diversified, with electrical end-markets representing approximately 49% of trailing twelve-month acquisition-related pro forma revenue to March 31, 2026. The U.S. presence accounts for approximately 26% of the same revenue metric.

Financial Metrics

The following table summarizes Aecon Utilities' reported and acquisition-related pro forma financial information for the trailing twelve months ended March 31, 2026:

Transaction Details

CIBC Capital Markets served as financial advisor to Aecon, while Davies Ward Phillips & Vineberg LLP acted as legal counsel. CIBC Capital Markets provided an opinion to the Board of Directors that the consideration to be paid was fair from a financial point of view. Additional terms will be detailed in a material change report available on SEDAR+.