On November 6, 2024, BURNCO Rock Products Ltd. ("BURNCO"), an aggregate construction materials company with operations in Canada and the United States, completed its acquisition of Hammerstone Infrastructure Materials Ltd. ("Hammerstone") from Brookfield Business Partners L.P., which was pursuant to a previously announced Share Purchase Agreement.
This acquisition enhances BURNCO's industry-leading materials position in Western Canada by adding quality long-term aggregate reserves. The development of these reserves will support Canada's world-class energy industry. Hammerstone has established strong relationships with customers in Fort McMurray, Alberta and Indigenous groups, which BURNCO will continue to support and strengthen. The transaction aligns with BURNCO's growth strategy, complementing its existing business in Alberta with a major limestone production operation and extensive leasehold interests in the province’s northern region.
Fasken advised BURNCO with a team led by Gesta Abols, which included Claire Gowdy, Brendan Sawatsky, Evan Conover, Sarah Martin, Aman Marwaha, Teresa Li (Capital Markets and Mergers & Acquisitions); Antonio Di Domenico (Competition, Marketing & Foreign Investment); Allison Sears, Regan Brodziak, Erin McKlusky (Energy & Climate); Zachary Romano, Heather Sorenson (Indigenous Legal Matters); Andrew Dixon (Labour, Employment and Human Rights); Sam Delechantos (Privacy & Cybersecurity Law); Michael Wolpert, Allyson Marta (Pensions & Benefits); Larissa Svekla, Rachel Kardal, Alina Kaiser (Real Estate Law); Christopher Steeves, Paul Casuccio (Tax Law); and Anthony Foreshew (Summer Student).
Jurisdiction
- Canada
