March 8, 2017, Edmonton, Alberta – Hillcore Group is pleased to announce the completion of the acquisition of the Academy Fabricators Group (www.academyfabricators.ca). Based in Edmonton, Alberta, Academy is one of Canada’s most well respected large pipeline and pipe spooling fabricators. Founded in 1995, Academy operates out of two locations and has a seasonal peak of approximately 250 employees.
Hillcore teamed up with key members of Academy’s senior management team to acquire the business from its founders. Hillcore looks forward to working with them to continue Academy’s history of excellence. Although Academy will remain independent, it will become part of Hillcore’s industrial group and will have access to Hillcore’s complementary portfolio companies.
Ryan Bourke, Founder and current President of Academy, will be transitioning the Presidency role at Academy over to Dustin Medori who is currently a Vice President and has been with the company for 17 years. Regarding the transaction, Ryan had the following to say “The growth and market Academy has maintained over the past 22 years is nothing short of profound. Over the past decade alone we have added over 100,000 square feet of space in Onoway. We continue to diversify and now lead the industry in Western Canada for shop fabricated pipeline projects. We have given back to our Edmonton and Onoway communities, and have created opportunities for generations to come. We see an excellent cultural fit and strategic alignment with Hillcore.”
Jean-Marc Bougie CEO of Hillcore stated “We are delighted to be adding Academy to the Hillcore Group. We are committed to maintaining and building upon the excellent level of service that Academy already delivers with immediate plans to expand Academy’s market presence and improve large project delivery capacity through enhanced Safety, Quality, Staffing, and Financial systems.”
Hillcore continues to be active as a purchaser of industrial businesses throughout Canada, with a particular emphasis on supporting management buyouts.
About Hillcore Group
The Hillcore Group is a leading independent Canadian investment and advisory firm. Hillcore has diverse business interests, predominantly in the industrial, energy, real estate, seniors living, financial and life sciences sectors. Hillcore has offices in Toronto, Vancouver, Calgary and Montreal. Through Hillcore’s various groups and portfolio companies, they employ approximately 2,800 people throughout Canada and are at the forefront of important social issues (including Aboriginal initiatives, oilsands and pipeline development, and renewable resources).
Entities under Hillcore’s management have an asset value in excess of $4.4 billion, as of December 31, 2015. Since 2005, Hillcore has completed acquisitions, directly or indirectly through its investment funds, with an aggregate asset value in excess of $7.2 billion, including $710 million in 2015 alone.