New company formed to take over Accurso’s businesses
MONTREAL – Quebec’s newest construction company is now the largest in the province and its shareholders include two of Tony Accurso’s sons.
Hexagone Investments Inc. confirmed Tuesday the details of its acquisition of several businesses owned by the Quebec construction magnate.
Accurso faces numerous criminal charges and his companies have been mentioned in testimony at Quebec’s corruption inquiry.
Valued at approximately $150 million, the acquisition of Louisbourg SBC, Gastier, Géodex, Ciments Lavallée and Houle H2O will make Hexagone the largest construction company in Quebec.
To ensure “a commitment to provide the highest standards of governance,” Hexagon Investments will have a board of directors made up of five independent members and four shareholders, two of which are sons of Accurso.
Joël Gauthier, the former CEO of the Metropolitan Transportation Agency, has been appointed president and CEO.
Mario Bertrand will take on the role of chairman of the board. Formerly the chairman and CEO of TVA, Bertrand also worked with premier Robert Bourassa from 1986 to 1990.
The remaining board members are: Gaétan Frigon, executive chairman of Publipage; Yves Duhaime, a former Parti Quebecois minister under René Lévesque; Lisane Dostie, founding president of ISALégal; and Guy George Lever, a specialist in corporate restructuring, financing and management.
The company will have several shareholders, including Sylvain Gadoury, Benoit Bégin and Adrien Vigneault , as well as James and Marco Accurso.
Bégin, Gadoury, Gauthier and Vigneault have been appointed as independent members of the Board of Directors.
“In the context of increased governance and compliance, the role of directors at Hexagon Investments will take precedence,” said chairman Mario Bertrand, in a statement.
“We will actively develop standards and business practices at a high level that will pave the way for the future of this new company, making it a reference for the construction industry in Quebec.”
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