Hangingstone Ventures has been acquired by Infracon Construction

The shareholders of Hangingstone Ventures Ltd. (HSV) have sold the company to Infracon Construction Inc.

HSV is a hydro-vac and air-vac service company operating in western Canada with locations in Alberta and British Columbia, efficiently mobilizing crews and equipment to its clients’ work sites. HSV provides single-axle and tri-axle hydro-vac services and air excavation technology to a wide range of clients in the infrastructure, pipeline, utility and oil and gas industries.

Based in British Columbia, Infracon is a group of specialty construction companies involved in the heavy civil, pipeline, welding and construction materials business in western Canada. It is one of the fastest growing construction groups in the country, with a year-over-year average revenue growth of over 65%. The group has grown from revenues of under US$30 million in 2018 to over US$180 million in 2022.

Oaklins’ team in Canada acted as the sole sell-side financial advisor in this transaction.

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M&A sell-side

Parties

“We retained Oaklins as our advisor as we believed their knowledge of the industry and their relationships with buyers would make a difference in the sale process of our company. With hindsight, we made the right choice as they delivered exceptional services through the sale process, and were able to bring to the table the right acquiror for our company. Overall, we were highly satisfied with the services provided by Oaklins.”

Greg MacMillan

Founder and Owner, Hangingstone Ventures Ltd.

Talk to the deal team

Guillaume Poulin

Managing Partner

Toronto, Canada
Oaklins Canada

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