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Private equity consortium acquires North America Construction Group for $310m09/12/2003. Source: AltAssets. 
 A private equity consortium has acquired North America Construction Group, a provider of construction services to the Canadian oil and gas industry, for $310m. Sterling Group, Genstar Capital, Perry Strategic Capital, Stephens Group and BNP Paribas are all committing capital to the transaction.
The acquisition capital, along with a C$70m revolving credit facility led by BNP and RBC Capital Markets, has given North America Construction Group additional capital to grow its business.
North America Construction operates primarily in Western Canada where there are approximately 175 billion barrels of economically recoverable oil, comparable to the reserves of Saudi Arabia. ‘The company is expected to benefit from the significant increase in investment in the region,’ it said in a statement.
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