M&A Deal Summary

CIEL Capital Acquires Pickard Utility Services Group

On December 1, 2024, private equity firm CIEL Capital acquired construction company Pickard Utility Services Group

Acquisition Highlights
  • This is CIEL Capital’s 1st transaction in the Construction sector.
  • This is CIEL Capital’s 8th transaction in Canada.
  • This is CIEL Capital’s 8th transaction in Ontario.

M&A Deal Summary

Date 2024-12-01
Target Pickard Utility Services Group
Sector Construction
Buyer(s) CIEL Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Pickard Utility Services Group

Owen Sound, Ontario, Canada
Pickard Utility Services Group provides utility-infrastructure construction, maintenance and engineering services, including trenching, conduit installation, directional drilling, hydrovac excavation, rock drilling, aerial line work, submarine cabling, and other utility-related works. Pickard Utility Services Group was founded in 1979 and is based in Owen Sound, Ontario.

Search 214,238 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try Free

Buyer(S) 1

DESCRIPTION

CIEL Capital is a family operated private equity firm that seeks majority investment in medium-sized niche businesses based in Canada. CIEL Capital is focused on successful companies with EBITDA of $3 to $20 million with proprietary, differentiated, or branded products and services. Industries of interest typically include business services, distribution, manufacturing, consumer products, software, and technology. Investment situations of interest include founders seeking liquidity, recapitalizations, management buyouts, and corporate divestitures. The Firm will not invest in hospitality, real estate, resource extraction, or start-up businesses. CIEL Capital was founded in 2012 and is based in Toronto, Ontario.


DEAL STATS #
Overall 8 of 8
Sector: Construction M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 6 of 6
State: Ontario M&A 8 of 8
Country: Canada M&A 8 of 8
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-30 General Kinetics

Brampton, Ontario, Canada

General Kinetics is a manufacturer and supplier of dampers, shock absorbers, hydro-pneumatic suspensions, semi active damping systems, coil over dampers, blast mitigation damping systems and seat suspension dampers for military vehicles, both tracked and wheeled, and off-highway machines used in the construction, material handling, forestry, mining and agriculture markets. General Kinetics was founded in 1981 and is based in Brampton, Ontario.

Sell -