Canam Group Inc., which specializes in designing integrated solutions and fabricating customized products for the North American construction industry, announced that it has acquired ownership of an additional 6,444 subordinate voting shares in ADF Group Inc., located in Terrebonne, Quebec. ADF Group is a structural and miscellaneous steel fabricator and acts as a subcontractor for the supply of structural steel products on certain Canam Group’s projects.
Following the transaction, Canam Group holds a total of 1,827,844 subordinate voting shares of ADF Group, representing 10 percent of the outstanding shares of such class. The shares were purchased on the secondary market through the Toronto Stock Exchange at an average price of $2.85 per share.