Aecon acquires Trinity Industrial Services

Expands Aecon’s Industrial operations and capabilities in the U.S.

TORONTO, Sept. 18, 2025 (GLOBE NEWSWIRE) -- Aecon Group Inc. (TSX: ARE) (“Aecon” or the “Company”) announced today that it has acquired the business of Trinity Industrial Services (“Trinity”), headquartered in Beaumont, Texas. Trinity’s management is committed to supporting Aecon’s growth in the United States and will lead the business in partnership with Aecon’s Industrial management team.

Founded in 2008, Trinity is a privately-owned company with approximately 60 employees that provides multidisciplinary services supporting maintenance, capital projects, turnarounds and fabrication for core industrial clients, primarily in Texas and Louisiana. The majority of Trinity’s revenues are recurring in nature and are conducted under multi-year master service agreements.

“This transaction provides Aecon with an expanded footprint in one of the most significant industrial hubs in the U.S., enhances relationships with major clients, secures a growth platform in target markets and strengthens recurring revenue,” said Jean-Louis Servranckx, President and Chief Executive Officer, Aecon.

“We are pleased to welcome Trinity’s dedicated employees and leadership team to Aecon – augmenting our core industrial capabilities, providing opportunities to cross-sell complementary services, and increasing capacity to scale Trinity’s operations across the U.S. Gulf Coast Region,” said John Singleton, Senior Vice President, Industrial, Aecon.

“We are excited to advance our growth, harnessing our strong client relationships and extended services to pursue and execute projects and programs as part of Aecon’s experienced team,” said Bart Umphrey, President, Trinity.

About Aecon

Aecon is a North American construction and infrastructure development company with global experience. Aecon delivers integrated solutions to private and public-sector clients through its Construction segment in the Civil, Urban Transportation, Nuclear, Utility, and Industrial sectors, and provides project development, financing, investment, management, and operations and maintenance services through its Concessions segment. Join our online community on X, LinkedIn, Facebook, and Instagram @AeconGroupInc.

About Trinity Industrial Services

Trinity provides multidisciplinary industrial services supporting maintenance, capital projects, turnarounds and fabrication for core industrial clients in the U.S. Gulf Coast Region. Headquartered in Beaumont, Texas, Trinity delivers comprehensive solutions with a commitment to safety and integrity.

Statement on Forward-Looking Information

The information in this press release includes certain forward-looking statements which may constitute forward-looking information under applicable securities laws. These forward-looking statements are based on currently available competitive, financial and economic data and operating plans but are subject to risks and uncertainties. Forward-looking statements may include, without limitation, statements regarding the operations, business, financial condition, performance, prospects, ongoing objectives, strategies and outlook for Aecon, including statements regarding: the anticipated growth and acceleration of Aecon's industrial business, the anticipated acceleration of Trinity’s operations, and Aecon's expansion in the U.S. markets. Forward-looking statements may in some cases be identified by words such as "may," "will," "expects," "target," "anticipates," "projects," "should" or the negative of these terms, or similar expressions.

In addition to events beyond Aecon's control, there are factors which could cause actual or future results, performance or achievements to differ materially from those expressed or inferred herein including, but not limited to: the risk of not being able to meet contractual schedules and other performance requirements, the risk the industrial market does not continue to grow as expected, the risk of not being able to capitalize on opportunities linked to the industrial sector, the risk of recurring revenue not strengthening as expected, the risk of not being able to meet its labour needs, the risk of costs or difficulties related to the integration of Aecon and Trinity being greater than expected, the risk of the anticipated benefits and synergies from the acquisition not being fully realized or taking longer than expected to realize, the risk of not being able to grow and accelerate Trinity’s operations as expected, the risk of being unable to retain key personnel, including Trinity management, and the risk of being unable to maintain relationships with customers, suppliers or other business partners of Trinity. These forward-looking statements are based on a variety of factors and assumptions including, but not limited to that: none of the risks identified above materialize, there are no unforeseen changes to economic and market conditions and no significant events occur outside the ordinary course of business. These assumptions are based on information currently available to Aecon, including information obtained from third-party sources. While Aecon believes that such third-party sources are reliable sources of information, Aecon has not independently verified the information. Aecon has not ascertained the validity or accuracy of the underlying economic assumptions contained in such information from third-party sources and hereby disclaims any responsibility or liability whatsoever in respect of any information obtained from third-party sources.

Risk factors are discussed in greater detail in Section 13 - "Risk Factors" in Aecon's 2024 Management's Discussion and Analysis for the fiscal year ended December 31, 2024 and Aecon's Management's Discussion and Analysis for the fiscal quarter ended June 30, 2025, each filed on SEDAR+ (www.sedarplus.ca). Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Aecon undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

For further information:

Adam Borgatti
SVP, Corporate Development and Investor Relations
416-297-2600
ir@aecon.com

Nicole Court
Vice President, Corporate Affairs and Communications
416-297-2600
corpaffairs@aecon.com

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