HILLCORE GROUP COMPLETES ACQUISITION OF THOMPSON CONSTRUCTION GROUP

VANCOUVER, BC, June 2, 2023 /CNW/ - Hillcore is pleased to announce that they have completed the acquisition of the Thompson Construction Group.  Established in Barrhead, Alberta in 1964 with a handful of employees and a couple pieces heavy equipment, now headquartered in Spruce Grove, Alberta since 1984 with over 1,500 employees and 2,000 pieces of equipment. Thompson is one of Western Canadas most reputable and sought after heavy civil contractors focused on heavy civil earth moving, infrastructure construction, oil sands reclamation, plant construction, and workplace safety. With its long standing 59+ year history, the Company has been instrumental in developing and maintaining the infrastructure Western Canadian's depend upon each day.

Hillcore, which has partnered with Thompson's existing senior management team on the acquisition, will ensure Thompson's long-standing history of operational excellence, safety, and quality will continue. Hillcore will work with the management team as it builds its service capacity to support its growing customer base through capital expenditure, acquisition, and geographic expansion plans.

Hillcore's Chairman Russell Negus said, "We are excited to partner with such a great leadership team and an industry leader and see tremendous opportunities to grow this platform. We welcome Thompson's 1,500 employees to our existing family of over 3,500 employees across our affiliated businesses. Also, I'd like to give a special thanks to Larry Thompson for building such a great business. We are committed to being first rate stewards and custodians of this business as it continues to grow, providing value for all its stakeholders."

Larry Thompson stated, "I am thrilled that the Hillcore Group is dedicated to continue the vision of Thompson, supporting all the great staff and clients in the excellent work we do.  I also want to thank all Thompson employees past and present who have been instrumental in delivering so many successful projects to our long list of great clients over the years." 

For more information, please visit:

www.thompsoncg.ca

Hillcore Group is an active purchaser and operator of various businesses across Canada, with a focus on backing management buyouts.

The Hillcore Group is a leading independent Canadian investment and advisory firm. We invest predominantly in the life sciences, real estate, seniors living, financial, industrial, logistics, forestry, and energy sectors. We have offices in Toronto, Vancouver, Edmonton, and Calgary. Through our various groups and portfolio companies, we employ more than 5,000 people throughout Canada.

Entities under our management have an asset value in excess of $5 billion. Since 2005, we have completed acquisitions, directly or indirectly through our investment funds, with an aggregate asset value in excess of $9 billion.

SOURCE Hillcore Group