An aboriginal-owned oilsands contractor says it has repurchased its minority stake from Carillion Group, which bought into the Fort McMurray company five years ago.
U.K.-based Carillion announced this week that it has been placed into compulsory liquidation after being unable to restructure with $2.6 billion in debt.
The Bouchier Group, which provides construction, maintenance and general site services to oilsands operations, did not disclose the value of the minority stake but noted that the transaction brings ownership back 100 percent to David Bouchier and Nicole Bourque-Bouchier.
"The Carillion partnership has been a positive investment for the growth of Bouchier's business," Bourque-Bouchier said in a statement.
"The partnership has helped us widen our service offering to clients and become the region's leading provider of integrated site support services."
There are approximately 6,000 Carillion employees in Canada. The company announced on its website on Tuesday that Canadian operations “are not in liquidation and continue uninterrupted.”
“Our Canadian leadership is currently assessing the situation and working with stakeholders to ensure continuity of operations,” the company said.