Aecon Group Inc. has entered into a definitive purchase agreement to acquire United Engineers & Constructors, a nuclear and conventional power contractor headquartered in Mount Laurel, New Jersey, from affiliates of CriticalPoint Capital for a purchase price of $33 million.

United’s management and operational teams will join Aecon upon closing of the transaction, which is subject to customary adjustments and closing conditions, including obtaining all necessary regulatory approvals.

Founded in 1905, United provides end-to-end engineering, planning, and program and construction management services to nuclear and conventional power clients in the U.S. and Canada. United maintains a strategic focus on nuclear power plant life extensions and developing small modular reactor and power generation projects. The majority of United’s revenues are conducted under master service agreements and are recurring in nature.

Aecon and United have a proven relationship and are collaboratively engaged as JV partners in executing steam generator replacement work and fuel channel and feeder replacements on six units at the Bruce Nuclear Generating Station in Ontario.

For more information, visit aecon.com.