COMPANY NEWS McNally under new ownership Jul 2011
McNally News Release
- After three generations of family ownership, Canada's leading tunneling contractor has sold out 100% to another family-owned operation. Under a deal that closed on 8 July, McNally International becomes part of the Weeks Marine operation of the USA, which has six divisions across North America and had revenues of $500 million for 2010. Founded in 1919, Weeks is ranked 86th on the ENR (Engineering News Record) 2011 top 400 contractors list.
- "With this purchase, Weeks' secures an entrance into North America's tunneling industry and establishes a significant presence in Canada," said Rich Weeks, President and CEO of the New Jersey-based firm.
- Ahead of the takeover Laura McNally, grand-daughter of the company's founder Joe and currently Vice President Corporate Development, said: "Weeks brings opportunities to grow the McNally brand and expand its marine operations."
- Both McNally and Ray Hutton, a grandson of the founder, have been appointed Managing Directors of McNally while Patrick McNally and John Hutton, who built the company into an international operation and ensured the company's future success by joining Weeks Marine, have stepped down from day to day operations and will serve on the McNally Board of Directors and in an advisory role to the management team.
- "Our team is excited about the opportunities," said Laura McNally. "For our employees across Canada and the US, it is business as usual: delivering excellence on all of our projects and bidding for new work for both our tunnel and marine operations."
- While there are some changes in senior management structure, McNally's employees will not be impacted by the change of control.
- Among McNally's many tunneling projects through the years are the Sheppard Subway in Toronto, Ontario; the Bruce Nuclear Intake, Ontario; and more recently the extension of the South Light Rail Transit System in Edmonton, Alberta; the Region of York sewer tunnel network near Toronto; an interceptor sewer tunnel contract in Columbus, Ohio, USA, construction of the river intake structure for the Niagara Tunnel Project, and the recent award of the tunneling contract in joint venture with Aecon and Kiewit for the Toronto Subway Spadina Line extension and in joint venture with Aecon to complete the Can$150 million Port Mann water supply tunnel contract under the Fraser River in Vancouver, British Colombia. McNally is the first North American tunnel and marine contractor to achieve ISO registration for Quality Management Systems, Environmental Management Systems and OHSAS certification for Health & Safety Management Systems.
- "Bringing McNally into the Weeks family enhances our ability to compete with the increasingly multinational players in our industry," said Weeks. "McNally's reputation for quality, their experience with challenging and innovative tunneling and marine projects, and their culture as a family-owned business make them a perfect fit with Weeks Marine. McNally has a strong management team and loyal employees—some of whom are third-generation McNally workers—this, along with their aggressive growth strategy, made them a very attractive organization."
McNally achieves North American ISO first - TunnelTalk, March 2011
Tunneling to commence in Toronto - TunnelTalk, May 2011
Toronto interceptor sewer tunnels contract - TunnelTalk, Aug 2008
End of the tunneling road at Niagara Falls - TunnelTalk, May 2011
Vancouver expands its water infrastructure - TunnelTalk, Sep 2009
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