Tli Cho Construction Ltd has acquired a 51-percent ownership stake in building design and construction firm Arcan Group.
In a Monday press release, the Tłı̨chǫ Investment Corporation, which owns Tli Cho Construction, said the acquisition “represents a significant step forward in building a scalable, Indigenous-led construction company, with the capacity to deliver larger and more complex infrastructure projects across the North, while strengthening Indigenous participation throughout the construction sector.”
“This partnership allows us to strengthen not only our project capacity, but how we plan, manage and deliver work,” stated Paul Gruner, chief executive officer of the Tłı̨chǫ Investment Corporation.
“There is tremendous value in the shared learning between our teams – from project management systems and construction processes to workforce planning and safety – all of which will strengthen long-term performance.”
According to the press release, Arcan Group will continue to operate under its existing name and structure. The release states the partnership “reflects a long-term vision on capacity-building, shared learning and sustainable Indigenous-led growth.”
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The investment corporation said as a result of the acquisition, the partnership will be better able to compete for larger, multi-year infrastructure and construction projects; expand training, apprenticeship and skills development opportunities; and create long-term employment, among other benefits.
The investment corporation said the acquisition was made possible through $1.6 million in funding from the Canadian Northern Economic Development Agency, commonly known as CanNor.
“Through projects like this, the Government of Canada is investing in a northern economy that is Indigenous-led and grounded in work that benefits our communities and Canada as a whole,” stated Rebecca Chartrand, the minister responsible for CanNor.
Rebecca Alty, the NWT’s MP and minister of northern and Arctic affairs, said the investment will create good jobs for Tłı̨chǫ citizens, increase construction capacity in the territory and open new opportunities for economic development.
