Seacliff Group

Seacliff Group
IPAC Services Corporation

IPAC Services Corporation

July 10, 2014 11:30 ET

Vancouver-Based Seacliff Group Expands Infrastructure Portfolio

IPAC Services Corporation & Seacliff Group Sign Agreement to Position for Growth and Expansion

VANCOUVER, BRITISH COLUMBIA and GRANDE PRAIRIE, ALBERTA--(Marketwired - July 10, 2014) - A partnership to expand operations in the Western Canadian energy sector was announced by Grande Prairie-based IPAC Services Corporation and Vancouver-based Seacliff Group.

According to IPAC Services CEO Ron Ward, "We welcome this partnership because it builds upon our already healthy financial position and our 25 year track record in oil and gas construction, maintenance and logistical services. Seacliff's experience and their ability to provide support and financial backing creates further opportunity for regional expansion and to broaden our service offering."

Ron Ward will continue to lead the company as CEO, as will the senior team and staff remain unchanged. Customers can expect the same commitment to service, safety, and quality.

Seacliff Group's private equity division acquires and partners with established private companies having strong market positions and growth potential. Notable prior businesses include Dominion Construction, a leading general contractor, Canem Systems, an electrical and data communications contractor, Broda Construction, a civil construction company, and Arctic/Arrow Powerline Group, a powerline distribution and transmission contractor.

"We think the oil and gas and industrial service sectors in western Canada will perform very well, and IPAC is an ideal fit given their strong management team and industry reputation as an outstanding service provider," said Stephen Curran, Managing Director, Seacliff Private Equity.

The effective date of the transaction was June 30, 2014.

IPAC Services Corporation is a leading provider of construction, maintenance and logistical services in Alberta and British Columbia with operations in Grande Prairie, Ft. McMurray, Airdrie and Ft. St. John. IPAC focuses primarily on oil and gas facilities as well as serving the petro chemical, utilities, forestry, power generation and mining sectors across Western Canada. IPAC employs up to 550 staff and boasts a full service solution including; plant construction and maintenance, pipeline installation, abrasive blasting and painting, transportation and logistics, scaffold rentals and erection and electrical/instrumentation services.

The Seacliff Group is a privately-owned group of companies with extensive experience in the construction and real estate industries. Established in 1988, Seacliff was previously the major shareholder of publicly traded Seacliff Construction Corp. Currently, Seacliff's private equity division is developing a portfolio of businesses in the infrastructure and industrial service sectors.

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