Edmonton, Alberta, January 22nd, 2020. Java Holdings Ltd (Java) announces the acquisition of the Helical Pier Systems Ltd assets and personnel. Helical Pier Systems Ltd was an Edmonton based deep foundation contractor specializing in the engineering, manufacturing, and installation of helical pile foundations in western Canada. Following the acquisition of the assets, Java has re-named the organization “Helical Pile Solutions” maintaining the company’s long standing acronym in the industry.
Helical Pier Systems was a pioneer in the helical pile industry growing one of Canadas largest helical pile companies between 2008 and 2017. However, in 2018 the company began to have financial trouble and ended up in bankruptcy in 2019. Java, having worked with Helical Pier Systems on the execution of some of its previous projects, stepped in with an asset purchase agreement that included taking on all remaining equipment and staff. The deal was ratified via the Court of Queens Bench in January 2020. A new company was incorporated shortly after under the name “Helical Pile Solutions” which allowed the Java team to quickly turn the business around to take on new work.
Victor Budzinski, CEO of Java Holdings adds “The new Helical Pile Solutions has all of the execution capacity of the old company with a streamlined and dedicated management team. We were able to maintain the execution experience the company had built over the years with the asset purchase which was a supreme help in getting the company back up and running during the difficult first few months of 2020.”
Java looks forward to integrating the new HPS into the Java Group to further leverage its EPC capacity throughout 2021.
