December 17, 2013

LMC acquires HydroPlumb Mechanical Ltd.

HydroPlumb Mechanical Ltd. has been acquired by LMC Investments of New Brunswick, one of the largest Atlantic Canadian-based mechanical construction companies.

Ottawa, Ontario – Nick Haitas, HydroPlumb Mechanical Ltd. announced today that LMC has closed the acquisition of HydroPlumb Mechanical Ltd. (“HydroPlumb”), an Ottawa based commercial HVAC and plumbing contractor.

“We are excited to welcome the HydroPlumb team to the LMC family. The organization shares a commitment to quality and a strong focus on customer satisfaction.” said Styve Dumouchel, CEO of LMC. “Given the deep experience and business relationships of the company and the strength of LMC, we expect new opportunities for growth and better capacity to serve our customers going forward.”

LMC was founded in 1977 offering field mechanical construction services to industrial customers. Today the company is one of the largest Atlantic Canadian-based mechanical construction companies, offering a full range of engineering, fabrication and mechanical construction services to clients throughout Eastern Canada and now Ontario.

LMC has worked on large scale industrial projects in Atlantic Canada including Point LePreau Nuclear Power Plant refurbishment (NB), Canaport Liquid Natural Gas (LNG) ( Saint John, NB), Field Construction Vale-Inco (Long Harbour, NFLD), DSO Timmins Site, TATA Steel /New Millennium Iron (Schefferville, QC / Labrador).

Nick Haitas said “LMC group of companies compliment HydroPlumb’s strengths and expertise with LMC financial strength, management and technical support depth, and their ability to work on very large projects. The acquisition will provide the Ottawa-based company with opportunities to work with LMC’s support and resources in a wider than Ottawa area such as in Quebec, the Maritime Provinces and the Chalk River/Brockville region.”

“The addition of HydroPlumb is part of LMC’s long-term growth strategy” said Styve Dumouchel. “LMC operates throughout Atlantic Canada and in Quebec. Ontario seems like a natural next step for us. Ottawa is a strong and stable market with a significant amount of large projects on the horizon”.

“This acquisition offers significant synergies with LMC’s commercial plumbing contractor, Master Mechanical.” said Todd Bethune, Chief Financial Officer of LMC. “The combined strengths of the three companies should lead to process improvements and new business opportunities as the companies pool their collective resources.”

Financial details of the transaction are not being disclosed.

About HydroPlumb Ltd.

HydroPlumb began operations in 2008. Under the guidance of founder Nick Haitas, the company’s construction capabilities and design and technical knowledge are well-suited to handle complex projects such as LEED certified initiatives, as well as renovations to sensitive environments such as historical and heritage sites.

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For more information please contact:
Todd Bethune, CFO, (506)-632-2446