Van Elle Canada Inc is being acquired by a special purpose vehicle, called 1560169 B.C. Ltd, 聽established specifically for this transaction and operating in a management partnership with Canadian rail contractor Remcan Projects LP.
The sale is expected to complete on or around 17th December 2025.
The = proceeds total approximately CAD $4.7m (拢2.6m), comprising an initial cash payment of CAD $2.7m, and deferred cash consideration of approximately CAD $2.0m payable by 31st 聽July 2026. The initial sum is equal to the net book value of certain fixed assets, including a fleet of road-rail plant, and the deferred consideration remains subject to closing balance sheet adjustments.
When Van Elle set up Van Elle Canada Inc in 2023, it was primarily to work on the Toronto Metrolinx GO expansion programme 鈥� a 10-year, $13.5bn project. But with delays at Metrolinx and the scope of work being cut back, Van Elle announced in July this 2025 that it had decided to withdraw.
For the year ended 30th April 2025, Van Elle Canada Inc generated revenue of 拢3.5m (2024: 拢402,000) but made a loss of 拢1.3m, on the back of a 拢1m loss the previous year.
Under new ownership, Van Elle Canada will have access to greater local resources to pursue the considerable opportunities identified in Ontario and beyond, the company said.
Van Elle's rail division will continue to provide advisory services to Van Elle Canada under a consultancy agreement.
Van Elle chief executive Mark Cutler said: "Our diversification into Canada was a strategic initiative to mitigate the impact of UK rail sector investment cyclicality. Since 2023, Van Elle Canada has secured several important frameworks which, despite delays to date, provide a significant opportunity for the new owner to take to the next stage, with Van Elle continuing to provide specialised technical support."
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