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Acquisition Successfully Closed; New CEO to Be Announced
TULSA, OK / ACCESS Newswire / June 8, 2026 / ATWEC Technologies, Inc. (OTC:ATWT), a growth-focused acquisition company, today announced the successful closing of its acquisition of Park-Aid Asphalt and Maintenance Ltd., one of Edmonton, Alberta's most established and respected heavy civil, asphalt, and infrastructure contracting companies. The closing of this transaction represents a watershed moment in ATWEC's corporate development strategy.
Park-Aid Asphalt and Maintenance Ltd. is a locally owned and operated contractor with nearly 30 years of industry experience, serving Edmonton and the surrounding communities, including Parkland County, with a comprehensive suite of civil construction services. With a management team boasting hundreds of years of combined industry experience, Park-Aid has earned a strong reputation for delivering complex projects on time and on budget for a diverse portfolio of clients ranging from municipalities and counties to universities and private sector developers.
About Park-Aid Asphalt and Maintenance Ltd.
Park-Aid operates across seven integrated business divisions, providing end-to-end civil construction capabilities:
Asphalt Division - Road development, paving, patch repair, pothole repair, and full parking lot construction for residential, commercial, and highway applications
Concrete Division - Sidewalk installation and repair, retaining walls, and related concrete infrastructure
Earthworks Division - Cement stabilization, excavation, gravel supply and installation, and subgrade preparation
Land Development Division - Full earthwork and base services including subgrade installations and ground stabilization
Underground & Civil Engineering Division - Installation and rehabilitation of underground utilities including water mains, sanitary and storm sewer systems, and related civil infrastructure; supporting municipalities, developers, and industrial clients with trenchwork, pipe laying, and site servicing from initial excavation through to surface restoration
Maintenance Division - Year-round parking lot and site maintenance including speed bump installation, line painting, and snow removal
Milling Division - Precision milling and surface removal services for roads, parking lots, and driveways of all sizes
Park-Aid's client roster includes the City of Edmonton, Strathcona County, the City of Beaumont, MacEwan University, and numerous private sector developers - reflecting the company's proven ability to execute at scale across both public and private sector engagements. The company maintains a 24-hour service center and holds memberships with leading industry associations including the Edmonton Construction Association (ECA) and Alberta Construction Safety Association (ACSA), and holds COR certification.
Management Commentary
"The acquisition of Park-Aid Asphalt and Maintenance Ltd. is one of the most significant milestones in ATWEC's history," said Joshua Weaver, Chief Executive Officer of ATWEC Technologies. "Park-Aid is not a startup - it is a proven, cash-generating business with deep roots in one of Canada's most active civil construction markets, an exceptional management team, and a blue-chip client base that speaks for itself. This acquisition immediately transforms ATWEC into an operationally active company with real revenue, real projects, and real growth potential.
"As part of this transition, we will be announcing a new Chief Executive Officer to lead ATWEC following the close of this transaction. This change in leadership is intentional and strategic - we are bringing in an executive purpose-built to operate and scale a civil infrastructure platform. I am confident that this transition, combined with the strength of the Park-Aid business, will position ATWEC to grow significantly in the years ahead and drive substantial long-term value for our shareholders."
Strategic Rationale
The acquisition of Park-Aid is expected to deliver immediate and long-term strategic value to ATWEC shareholders, including:
Immediate, meaningful revenue and cash flow contribution from an established, operating business
Entry into the multi-billion dollar Canadian civil infrastructure and construction market
Significant diversification of ATWEC's operational and geographic footprint
Access to a seasoned management team with deep industry expertise and established client relationships
A scalable platform for additional bolt-on acquisitions within the North American infrastructure sector
Strong alignment with sustained public and private sector infrastructure investment across Alberta and Western Canada
Transaction Close & Next Steps
The definitive acquisition agreement has been fully executed and the transaction has now officially closed. Upon closing, ATWEC Technologies will announce the appointment of a new Chief Executive Officer who will assume operational leadership of the combined company. Further details regarding transaction terms, financial impact, and leadership transition will be disclosed in connection with the forthcoming CEO announcement.
About Park-Aid Asphalt and Maintenance Ltd.
Park-Aid Asphalt and Maintenance Ltd. is one of Edmonton, Alberta's leading asphalt, concrete, earthworks, and maintenance contractors. Locally owned and operated, Park-Aid serves Edmonton and surrounding communities with a full range of civil contracting services across residential, commercial, municipal, and institutional sectors. The company is headquartered in Nisku, Alberta and operates a 24/7 service center. For more information, visit www.park-aid.com.
About ATWEC Technologies, Inc.
ATWEC Technologies, Inc. (OTC: ATWT) is a growth-oriented acquisition company focused on identifying, acquiring, and scaling businesses across high-demand industries. ATWEC's strategy centers on building long-term shareholder value through accretive acquisitions and disciplined operational management. ATWEC is listed on the OTC Markets under the ticker symbol ATWT.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties. ATWEC Technologies undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
Media & Investor Contact
ATWEC Technologies
Joshua Weaver, CEO
Email: josh@atwectechnologies.com
Website: https://park-aid.com/
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SOURCE: ATWEC Technologies, Inc.
View the original press release on ACCESS Newswire
