LMC acquires X-L Air and Hydroplumb

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LMC Investments Press Release

LMC Investments expands to Ontario with the acquisition of a commercial HVAC contractor as well as a commercial plumbing contractor operating in the Ottawa region.

Saint John, New Brunswick – Styve Dumouchel, CEO of LMC Investments Ltd. (“LMC”), the parent company of Lorneville Mechanical Contractors, Qualmec, Master Mechanical and LOMA, announced today that LMC has closed the acquisition of X-L Air Energy Services Ltd. (“X-L Air”) and Hydroplumb Mechanical Ltd. (“Hydroplumb”), Ottawa based commercial HVAC and plumbing contractors.

“We are excited to welcome the X-L Air and Hydroplumb teams to the LMC family. Both organizations share 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 two companies and the strength of LMC, we expect new opportunities for growth and better capacity to serve our customers going forward.”

X-L Air commenced operations in 1995 and Hydroplumb began operations in 2008. Under the guidance of its founder Nick Haitas, the companies’ design capabilities 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. The Companies have worked on several significant and heritage–sensitive projects in the Ottawa area, including: the new 20-storey offices for Export Development Canada building, the Canadian Broadcasting Corporation Building, the Canadian Parliament Centre Block and West Block, the DeMarais and Biology ‘A’ buildings at Ottawa University, the 1,400,000 sq. ft. Target Distribution Centre in Cornwall, the National Gallery of Canada, and others. The companies are currently working on the Rideau Centre Mall renovation and on the Lansdowne Park redevelopment project including the CFL Stadium, its Parking Garage and three buildings.

“The addition of X-L-Air and 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 LMC

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.

www.x-l-air.ca
www.hydroplumb.ca

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