North American Construction Group Ltd. Acquires Iron Mine Contracting

North American Construction Group Ltd. (NACG) has completed the strategic acquisition of Iron Mine Contracting (IMC), a diversified mining services contractor based in Western Australia. The transaction, effective January 1, 2026, with a closing date of April 7, 2026, is valued at approximately $125 million. This acquisition establishes a Tier 1 platform in Australia for NACG, increasing its exposure to rare earth and critical minerals, particularly in Western Australia. IMC brings a blue-chip customer base and services in gold, iron ore, and lithium. The integration of IMC with NACG’s existing MacKellar operations is expected to enhance scale and local expertise. NACG also amended its senior secured credit facility, extending the maturity date to April 7, 2029, and increasing its direct lending capacity. The upfront payment for the acquisition was funded through draws from the credit facility, with remaining consideration structured through earn-out and deferred payment mechanisms based on IMC's future performance.