Target: Wabi Development Corporation
Transaction Type: Buy-side Advisory
Industries: Construction and Engineering
Geography: Alberta, Canada

Situation

Seale & Associates was retained by KBR Inc. to identify potential acquisition targets with construction capabilities based in Canada, confidentially pre-qualify targets, and assist in the execution of the transaction, including diligence, valuation and negotiation. Seale also assisted with the preparation of internal approval documents and presentations. KBR desired to diversify and expand their capability across markets and geographic regions.

Seale & Associates’ Approach

Seale completed comprehensive research on the Canadian industrial construction market, assisted in the prioritization of potential acquisition targets, and facilitated introductions to key decision makers at multiple target companies. Throughout the process, Seale assisted KBR with the refinement and articulation of the acquisition strategy and the formal request for approval from the KBR leadership team and Board of Directors.

Outcome

KBR successfully completed the acquisition of Wabi Development Corporation (Wabi) and immediately drove significant sales through the entity. Wabi employs over 350 people, and provides maintenance, fabrication, construction and construction management services. The integration of Wabi into KBR’s Services business provides additional growth opportunities for their heavy hydrocarbon, forestry, oil sand, general industrial and maintenance services business. KBR Wabi remains an integral part of the KBR strategy in Canada.