Fairfax is purchasing some of Carillion’s Canadian assets

By zaymalz malz

Canadian financial firm Fairfax has announced that it has agreed to acquire some of the Canada-based assets of bankrupt global construction giant Carillion.

The UK branch initially collapsed on 15 January, with the company’s Canadian unit filing for creditor protection 11 days later, putting 6,000 Canadian jobs in jeopardy. However, with Fairfax now agreeing to a partial acquisition, many of those jobs will be saved.

See also:

“We are delighted that more than 4,500 members of our team will be joining the Fairfax family,” said Simon Buttery, President and CEO, Carillion Canada. “This transaction will provide certainty and stability for the clients we work for and the customers we serve, and a strong platform for the continued growth of the business.”

The agreement will see Fairfax acquiring the services business of Carillion across Canada, carrying out the facility management of airports, commercial and retail properties, and defence, healthcare and other facilities.

“We are excited to have the services business of Carillion Canada join the Fairfax group,” said Prem Watsa, Chairman and CEO of Fairfax.  “The services business of Carillion Canada has an excellent long-term track record and we look forward to working with this team in growing their business over the long-term.”

Fairfax also announced that it would be appointing former Governor General of Canada, David Johnstone, and former Secretary to the Governor General of Canada, Stephen Wallace, to the Board of Directors of the acquired companies upon the closing of the transaction.


Featured Articles

Amelia DeLuca, CSO at Delta Air Lines on Female Leadership

Driving decarbonisation at Delta Air Lines, Chief Sustainability Officer Amelia DeLuca discusses the rise of the CSO and value of more women in leadership

Liz Elting – Driving Equality & Building Billion-$ Business

Founder and CEO Liz Elting Turned Her Passion into Purpose and Created a Billion-Dollar Business While Fighting for Workplace Equality – and Winning

JPMorgan Chase: Committed to supporting the next generation

JPMorgan has unveiled a host of new and expanded philanthropic activities totalling US$3.5 million to support the development of apprenticeship programmes

How efficient digital ecosystems became business critical

Technology & AI

Mastercard: Supporting clients at a time of rapid evolution

Digital Strategy

Why Ceridian has boldly rebranded to Dayforce

Human Capital