08:18 AM EDT, 10/28/2024 (MT Newswires) -- Aecon Group ( AEGXF ) on Monday said that it has entered into a definitive purchase agreement to acquire United Engineers & Constructors, a nuclear and conventional power contractor headquartered in Mount Laurel, New Jersey, from affiliates of CriticalPoint Capital, for US$33 million in cash.

United's management and operational teams will join Aecon ( AEGXF ).

"United strengthens our relationships with existing clients, provides opportunities to develop new clients, adds engineering capability and capacity, and accelerates our ability to harness the robust nuclear opportunities across North America while driving continued growth in the U.S. and priority markets," said Jean-Louis Servranckx, president and chief executive of Aecon ( AEGXF ).