Centurion Group Sells Centurion Canada Infrastructure to Hillcore Group
(P&GJ) — Centurion Group, a global leader in specialist rental equipment and services, has finalized the sale of its legacy construction business, Centurion Canada Infrastructure, to the Hillcore Group.
The divestment marks a strategic move in Centurion's growth plan, allowing the company to focus on expanding its core rentals and services offering. SITE, the specialist integrated services construction business, will now operate under Hillcore's ownership, positioning it to capitalize on growth opportunities in Canada's favorable market conditions.
Over the past four years, SITE has experienced significant growth, with EBITDA soaring approximately 239% from 2020 to 2023. Proceeds from the divestment will fuel Centurion's broader growth strategy, including organic expansion and potential acquisitions, while also facilitating future distributions to shareholders.
SITE specializes in delivering remote access, environmental, and infrastructure services across various industries in Western Canada. Hillcore, a leading Canadian investment firm, is well-positioned to support SITE's growth ambitions, given its extensive experience across multiple sectors, including real estate, logistics, and energy.
Fernando Assing, CEO of Centurion, emphasized the significance of the transaction, highlighting the opportunity for SITE to thrive under new ownership. He expressed gratitude to the SITE team for their dedication and commitment, wishing them success in this new chapter.
Greg Tedesco, managing director and CFO of The Hillcore Group, echoed Assing's sentiments, expressing enthusiasm about the acquisition and confidence in SITE's potential for future growth.
Overall, the sale represents a strategic realignment for Centurion Group, enabling it to focus on its core strengths while ensuring SITE's continued success under new ownership.
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