Bird Construction Inc. Acquires Nason Contracting Group Ltd.

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LISTING: TORONTO STOCK EXCHANGE
SYMBOL: BDT 
TORONTO, Jan. 17, 2013 /CNW/ - Bird Construction Inc. ("Bird") (TSX: BDT) 
today announced that it has completed its previously announced acquisition of 
all of the outstanding shares of Nason Contracting Group Ltd. ("Nason"). The 
total cost of the acquisition, including transaction expenses, will be 
approximately $13.3 million. 
The $12.8 million purchase price and related transaction expenses of $0.5 
million were funded with approximately $8.3 million of existing working 
capital and by the issuance from treasury of 363,007 common shares of Bird, 
valued at $5.0 million based on the volume-weighted average trading price of 
Bird's common shares on the Toronto Stock Exchange for the 10-trading day 
period ended January 16, 2013. 
Nason is a recognized leader in the construction of water and wastewater 
facilities in western Canada. Nason's revenue for their previous four full 
fiscal years averaged $37.0 million. The company has a 40-year track record 
of successful construction projects throughout Alberta, British Columbia, 
Saskatchewan and the Yukon and Northwest Territories. The company's head 
office, shops and yard are located in St. Albert, Alberta. 
Nason performs the majority of its work with its own forces and has particular 
strength in the execution of mechanical, electrical and instrumentation 
work. The company has a highly-skilled staff of over 65 professional and 
craft employees. Nason's management team members will remain as employees 
and will assist Bird in the management of Nason's ongoing operations. 
"The completion of this transaction continues Bird's ongoing focus to grow the 
company by looking for strategic opportunities to complement our current 
market scope," commented Tim Talbott, President and C.E.O. of Bird. "The 
addition of Nason's strong contracting capabilities in their area of 
specialization and their qualified construction professionals to the Bird 
organization will enhance the value that Bird provides to its shareholders." 
Nason's and Bird's businesses are complementary. Nason's primary expertise is 
in the mechanical, electrical and instrumentation aspects of water and 
wastewater projects, whereas Bird's expertise lies in the general contracting 
of such projects and in the self-performance of the civil and underground 
portions of the projects. Bird's general contracting and civil construction 
expertise will allow Nason to expand their operations. As well, Bird's 
expertise in design-build projects will provide further growth opportunities 
for Nason, particularly as it relates to the public-private partnership 
delivery method which is a growth area in the water and wastewater market. 
Further, Nason's business is focused on the public market. Bird's contacts 
and expertise in the industrial market will open up new opportunities for both 
companies. Nason has extensive experience working on remote job sites which 
will be a particular advantage servicing the resource market. 
For a synopsis of the transaction, please refer to Bird's website at 
www.bird.ca. 
This press release contains forward-looking statements that involve a number 
of risks and uncertainties because they relate to events and depend on 
circumstances that will occur in the future. Many factors could cause actual 
results and developments to differ materially from those expressed or implied 
by these forward-looking statements. 
T.J. Talbott, President & C.E.O. or S.R. Entwistle, C.F.O. Bird Construction 
Inc. 5403 Eglinton Avenue West Toronto, ON M9C 5K6 Phone: (416) 620-7122 
Fax: (416) 620-1516 
SOURCE: Bird Construction Inc. 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/January2013/17/c6821.html 
CO: Bird Construction Inc.
ST: Ontario
NI: CST MNA  
-0- Jan/17/2013 22:02 GMT
 
 
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