Hillcore Group has acquired major industrial maintenance firm CEDA from OMERS for an undisclosed price.

Toronto-based Hillcore announced the deal’s completion in a news release. The acquisition has widespread real estate implications. Calgary-based CEDA has locations across Canada and in Texas.

CEDA conducts industrial maintenance, while also providing turnaround and environmental services, for clients in the oil and gas, pipeline, power, pulp and paper, chemical, mining, municipal and steel markets. The company says it delivers more than 120 distinct services to support critical operations at its clients’ facilities. 

“We are happy to be acquiring CEDA at a time when market and growth opportunities are very favourable,” said Greg Tedesco, Hillcore’s managing director and CFO. “Equally important for us is that the excellent leadership team at CEDA will continue to operate the business going forward, which will ensure continuity of great customer service.”

CEDA has about 1,500 employees. Hillcore invests primarily in the real estate, seniors living, industrial, logistics, forestry, and energy sectors. 

“We are excited to become part of the Hillcore Group of Companies,” said Kevin Fleury, CEDA’s president and CEO. “This acquisition opens up a wide range of possibilities, enabling us to expand our reach and enhance our capabilities. The Hillcore Group is well positioned to steward the continued growth of CEDA and has an impressive track record of partnering with its portfolio companies.”

Toronto-based OMERS is the Ontario Municipal Employees Retirement System, one of Canada’s largest defined benefits pension plans. OMERS had held a majority stake in CEDA since 2005.