NOA News & Events

North American Construction Group announced that Joe Lambert has resigned from his position as President and CEO of the Company to pursue other opportunities. Effective immediately, the Company's COO, Barry Palmer, has assumed the role of President and CEO. The Company has begun the process of assessing both internal and external candidates to assume the role on a permanent basis. Further to its press release on December 18, the Company confirms that closing activities related to its acquisition of Iron Mine Contracting remain on schedule, with a targeted closing of this quarter.

North American Construction "announced that it has entered into a definitive share purchase agreement to acquire Iron Mine Contracting, a privately owned Western Australian diversified mining services contractor. The acquisition is valued at approximately $115 million. Concurrent with this announcement, the Company is providing a year-end update on its infrastructure and fleet optimization initiatives, along with its 2026 financial outlook. The total estimated consideration of $115 million represents 2.5x of expected EBITDA in 2026, calculated prior to any realized synergies. The acquisition is expected to be significantly accretive, increasing NACG's incremental earnings per share by approximately 20% in 2026. The Transaction will be fully funded by senior-secured bank financing (65% of the purchase price) and vendor-provided debt financing."

Affirms FY25 revenue view of C$1.5B-$1.7B.