Dechert Advises Aecon Utilities on Acquisition of Duna Services and an Interest in KNX Utility Services

Dechert recently advised Aecon Utilities Group Inc. (Aecon Utilities), a subsidiary of Aecon Group Inc. (Aecon), on its acquisition of Duna Services, LLC and its subsidiaries Arc American, LLC and C.A. Advanced, LLC, as well as a 49% interest in KNX Utility Services, LLC from Ryker Holdings Inc. for a base purchase price of US$60 million with the potential for additional contingent proceeds. The transaction is being financed through Aecon Utilities' standalone committed revolving credit facility.

The acquisition provides additional U.S. platforms to accelerate growth in the electrical distribution and transmission market, augments the company's self-perform offering with cross-selling opportunities, increases recurring revenue and enhances its ability to expand into growing regions with attractive project pipelines.

Aecon is a North American construction and infrastructure development company with global experience, delivering integrated solutions to private- and public-sector clients through its construction segment in the civil, urban transportation, nuclear, utility and industrial sectors, providing project development, financing, investment, management, and operations and maintenance services through its concessions segment.

Aecon Utilities is a leading provider of utility infrastructure solutions in Canada, with a growing presence in the U.S., operating through independent subsidiaries in electrical transmission and distribution, renewables and in-home services, telecommunications and pipeline distribution.

Corporate and securities partner Nick Marchica led the Dechert team advising Aecon Utilities alongside associates Matthew Andonian and Nicole Godani as well as law clerk Leah Smart. The team also included tax partner David Passey and associate Ishani Kundu; employee benefits partner Howard Klein with associates Michael Binko and Sam Minter; labor and employment partner J. Ian Downes with associates Tanya Warnke and Catherine Gorey; intellectual property partner Thomas Rayski with associate Frank Hwang; environmental special counsel John Ix with associate Remington Shepard; cyber, privacy and AI senior counsel Timothy Blank with associates Daniel Murdock and James Smith; real estate special counsel Francois Quintard-Morenas with associate Devyn Kurpis and paralegal Emily Selden; and national security partner Hrishikesh Hari with associates Daniel Kim and Marston Li.

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