The purchase was made through newly established Obayashi Canada Holdings Ltd, set up specifically to make this acquisition.
Obayashi said that the expected growth in public sector construction made Canada a “highly attractive” market.
Kenaidan’s current management, led by CEO Aidan Flatley, will continue to operate the company following the acquisition.
Kenaidan has 280 employees and annual sales of CAD 206m (€150m) in 2010.
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