Aecon Acquires KPC, Powering Up for Canada's Grid Modernization

TORONTO, ON – January 06, 2026 – Aecon Group Inc. has significantly deepened its capabilities in the utilities sector, announcing today that its subsidiary, Aecon Utilities, has completed the acquisition of Ontario-based specialist contractor KPC. The deal brings K.P.C. Power Electrical Ltd. and K.P.C. Energy Metering Solutions Ltd. under the Aecon umbrella, a strategic move aimed squarely at capitalizing on the accelerating demands of grid modernization and electrification across Canada.

The acquisition integrates KPC’s highly specialized expertise in high-voltage testing, commissioning, and energy metering—critical services for maintaining and upgrading modern power grids. Aecon leadership framed the move as a direct response to a rapidly evolving energy landscape.

“With the expanded expertise and capacity of the KPC team, we are well positioned to harness significant grid modernization, electrification and infrastructure upgrade opportunities moving forward,” said Jean-Louis Servranckx, President and Chief Executive Officer of Aecon Group Inc., in a statement.

Eric MacDonald, Executive Vice President of Aecon Utilities, echoed the sentiment, welcoming the KPC team and emphasizing the goal of “continued sustainable growth across the utilities sector.” The financial terms of the deal were not disclosed.

Powering Canada's Grid Modernization

This acquisition arrives at a pivotal moment for Canada's energy infrastructure. The nation is grappling with the dual challenges of aging grid systems and ambitious decarbonization targets, including a federal goal for a net-zero electricity system by 2035. Nowhere is this pressure more acute than in Ontario, Canada's most populous province.

According to the Independent Electricity System Operator's (IESO) 2025 Annual Planning Outlook, Ontario's electricity demand is projected to surge by as much as 75% by 2050. This dramatic increase is fueled by economic growth, a rising population, and a widespread push to electrify transportation and industry. To meet this demand reliably and sustainably, a massive overhaul of the province's grid is not just anticipated but already underway.

Grid modernization involves more than just building new power plants; it requires upgrading transmission networks, integrating renewable energy sources like wind and solar, and deploying sophisticated technologies for real-time grid management. Aecon's acquisition of KPC is a clear strategic play to secure a larger role in this multi-billion dollar transformation. By bringing KPC’s specialized high-voltage and metering services in-house, Aecon enhances its ability to offer end-to-end solutions for complex infrastructure projects.

The Critical Role of Specialized Services

While large-scale construction projects often capture headlines, the work performed by companies like KPC represents the foundational layer of grid reliability and safety. These are the “silent revolution” services that ensure the power system functions correctly, efficiently, and in compliance with stringent industry standards.

K.P.C. Power Electrical, founded in 2011, has built a reputation in Ontario for its expertise in the high-voltage sector. Its services include everything from substation maintenance and diagnostic testing to the complex commissioning of new power systems. This work is essential for integrating renewable energy projects into the grid and ensuring the stability of high-voltage components that form the backbone of the electrical network.

Its sister company, K.P.C. Energy Metering Solutions, established in 2018, addresses another critical need: accurate energy measurement. The company provides comprehensive metering services that ensure compliance with governing bodies like the Ontario Energy Board (OEB) and Measurement Canada. For a modern grid that relies on precise data for billing, load balancing, and demand-response programs, the accuracy and reliability of energy meters are non-negotiable.

By acquiring these two entities, Aecon Utilities not only gains technical proficiency but also a portfolio of recurring revenue from maintenance and verification programs with public and private utility clients—a stable business line that complements its larger project-based work.

A Strategic Move in a Competitive Landscape

The market for specialized utility services in Ontario is robust and competitive. Aecon, with KPC now integrated, will be contending with other established players. In the high-voltage space, firms like RA Electrical High Voltage and Electek Power Services Inc. have long served the province's utility and industrial sectors. In metering, companies such as Alliance Metering Solutions and ERTH Corporation offer comprehensive services to local distribution companies.

Aecon’s acquisition is therefore a calculated move to consolidate expertise and gain a competitive edge. This strategy aligns with a broader M&A trend within the Canadian power and utilities sector, where companies are increasingly looking to acquire specialized capabilities to become one-stop-shop providers. Industry observers note that regulators have become more favorable toward sector consolidation, recognizing the economies of scale and enhanced capabilities that larger, integrated firms can bring to major infrastructure challenges.

By absorbing KPC’s trusted brand and specialized workforce, Aecon is better positioned to compete for larger, more complex contracts that require a diverse skill set spanning construction, commissioning, and long-term maintenance.

Bolstering Ontario's Ambitious Energy Future

The timing of the acquisition aligns perfectly with the Government of Ontario's ambitious infrastructure plans. The province's “Energy for Generations” roadmap outlines a 25-year vision that includes massive investments in nuclear and hydro generation, as well as significant grid infrastructure upgrades. Notably, the plan calls for the construction of two new transmission lines and the enhancement of two others—one of the largest transmission build-outs in the province's history.

These projects will require precisely the kind of high-voltage testing and commissioning expertise that KPC provides. With KPC's team and experience now part of its arsenal, Aecon is in a prime position to bid on and execute critical components of these provincial megaprojects. The integration of KPC’s services strengthens Aecon’s value proposition, offering clients a seamless project delivery model from initial construction through to final energization and ongoing maintenance.

As Ontario pushes forward with its energy transition, the demand for reliable, technically proficient contractors will only grow. With this strategic acquisition, Aecon has sent a clear signal that it intends to be a central player in building the province's electrified future.