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Genstar Capital Buys Voice Construction
Mid-market PE firm’s investment in Canadian oil sands extractor signals ongoing investment in the power and energy sector at a time when oil is finally beginning to wane.
August 5, 2008
Genstar Capital bought Voice Construction, the provider of construction services to energy services sectors operators in the Alberta oil sands area, it was announced Tuesday.
The Voice family, which has run it for three-quarters of a century, sold it for an undisclosed sum.
“The acquisition of Voice Construction represents a unique opportunity for us to back a leading player in the ongoing growth and development in the oil sands region in Canada,” said Darren Gold, managing director of Genstar. “The attractiveness of the vast energy reserves in the Canadian oil sands and the resulting robust investment in that region has led to a rise in major construction projects that will be a key part of the company’s growth.”
Voice is headquartered in Edmonton, Alberta, and focuses on work in the northern Alberta region. The company’s services offerings include site preparation, infrastructure development, tank services and maintenance.
Genstar’s prior investments in the space include its investment in North American Energy Partners, which the firm acquired in 2003. NAEP is a provider of services similar to Voice’s.
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