Hillcore Taps CEDA Leadership to Unify Its Industrial Empire

CALGARY, AB – March 19, 2026 – In a strategic move that underscores a deep commitment to integration and growth, Hillcore Industrial has appointed the leadership duo from its recently acquired subsidiary, CEDA, to helm its entire industrial portfolio. Effective March 17, 2026, Kevin Fleury has taken the role of Chief Executive Officer and Alan Hartslief has been named Chief Financial Officer.

The appointments come less than two years after Hillcore Group acquired CEDA, a major industrial maintenance and services firm, in June 2024. Fleury and Hartslief, who served as CEO and CFO of CEDA respectively, will now replicate their leadership roles on a much broader scale, overseeing a diverse collection of privately held companies that form Hillcore's industrial arm. The move signals a clear strategy: to leverage a proven and successful management model across a wider operational canvas.

"Having played a critical role in CEDA's success, Kevin and Alan bring a powerful combination of operational and financial leadership," said Greg Tedesco, Managing Director of Hillcore Industrial, in a statement announcing the appointments. "We are confident in their ability to drive continued growth, strengthen collaboration, and unlock new opportunities across our industrial businesses."

A Strategy of Proven Leadership

Hillcore Group, a Toronto and Vancouver-based investment firm managing assets in excess of $5 billion, has built its reputation as an active purchaser and operator of businesses, with a distinct focus on backing management buyouts. Its acquisition strategy often hinges on identifying strong, existing leadership and providing the capital and strategic support for expansion. The elevation of Fleury and Hartslief represents a powerful evolution of this philosophy—not just backing leadership within an acquired company, but promoting it to guide the parent division.

This new mandate places the former CEDA executives in charge of a complex and varied portfolio. Beyond CEDA's extensive operations in industrial maintenance and environmental services, Hillcore Industrial's holdings include key players across the Canadian landscape. These include Waiward, one of Canada's largest steel fabricators; Ruskin Construction, a specialist in bridge and marine projects; and Zanron Mechanical Services, a key contractor in the Northwest. The portfolio also features SITE Resources Group and Meridian Energy, which provide a range of infrastructure, environmental, and energy services across Western Canada.

The decision to install a unified leadership team suggests a push toward greater synergy and operational cohesion among these distinct entities. By applying the principles that led to CEDA's sustained success, Hillcore appears to be creating a more integrated industrial services powerhouse, capable of offering a comprehensive suite of services to a broad client base in sectors ranging from oil and gas to mining and power generation.

From Acquired Asset to Corporate Command

The journey of Kevin Fleury and Alan Hartslief from leading an acquired company to commanding the acquirer's entire industrial division is a significant corporate narrative. It stands as a testament to both their track record and Hillcore’s approach to post-acquisition integration. For many companies, M&A can lead to culture clashes and the departure of key talent. In this case, Hillcore has turned an acquired leadership team into the core of its forward-looking strategy.

Kevin Fleury, a 35-year veteran of the industrial and oilfield services industry, has been at the helm of CEDA since 2012. Under his and Hartslief’s guidance, CEDA was consistently recognized as one of Canada's Best Managed Companies, a prestigious designation that evaluates strategy, culture, financial performance, and innovation. This award highlights a proven ability to foster a strong corporate culture and achieve sustainable growth—qualities Hillcore is now betting on at a portfolio-wide level.

"I would like to start by thanking the Hillcore Board for the opportunity to serve as CEO," Fleury stated. "I look forward to working closely with our portfolio companies as we continue to build a best-in-class industrial services provider for the markets we serve."

His partner in this endeavor, Alan Hartslief, echoed the sentiment of collaborative growth. "I am excited to work with our internal and external partners to support Hillcore Industrial's continued growth and deliver value for all stakeholders," said the new CFO. Their appointments suggest that the operational excellence and values-driven culture cultivated at CEDA will now become the blueprint for the entire industrial group.

Navigating a Dynamic Industrial Landscape

Fleury and Hartslief take the controls at a pivotal moment for Canada's industrial sector. The landscape in 2026 is one of cautious optimism, marked by significant opportunities and persistent challenges. Western Canada, a core operational region for many of Hillcore's companies, is poised for strong growth, with Calgary emerging as a primary distribution hub. This geographic strength provides a solid foundation for expansion.

However, the sector is also in flux. Technological advancement is a primary driver, with automation, IoT, and AI reshaping how industrial services are delivered. There is also a powerful and growing demand for sustainability, pushing companies to invest in greener technologies and practices. Simultaneously, the industry grapples with a persistent skilled labor shortage as a large portion of its workforce approaches retirement. These macro trends require agile and forward-thinking leadership.

The installation of a seasoned team with deep operational experience positions Hillcore Industrial to navigate this complex environment effectively. Their proven ability to manage a large, diverse workforce at CEDA and maintain a competitive edge through service innovation will be critical assets. The new leadership's mandate will likely involve not only driving financial performance but also spearheading technological adoption and talent development initiatives across the portfolio to ensure long-term resilience and competitiveness.

This strategic alignment under a single leadership team could enable Hillcore to move more decisively on large-scale opportunities, optimize resource allocation across its companies, and present a unified front to clients, competitors, and the market. By consolidating its operational strategy, the firm is better positioned to tackle industry-wide challenges and capitalize on the trends shaping the future of Canadian industry.