05:14 PM EDT, 09/03/2025 (MT Newswires) -- Bird Construction ( BIRDF ) after trade Wednesday said it agreed to acquire Fraser River Pile & Dredge for estimated aggregate consideration of $82.3 million.

In a statement it said the transaction, pending regulatory approvals and the satisfaction of other customary closing conditions, is expected to close early in the fourth quarter.

Among highlights, Bird said it builds on its "significant" national infrastructure presence, adding national marine construction and land foundation self-perform capabilities and is expected to enhance its adjusted EBITDA margins through focus on complex, specialized projects and self-perform work.

Bird added it supports value creation through an anticipated 7% adjusted EPS accretion on full-year basis with potential for further growth and margin expansion from cross-selling opportunities and other synergies. It cited an implied purchase multiple of 4.1x FRPD's projected full year 2025 Adjusted EBITDA based on an estimated purchase price of $82.3 million, exclusive of future synergies.

Bird shares closed down $0.20 to $22.98 on the Toronto Stock Exchange.