How we think about buying, building and the work ahead
Notes from HydroCore's founders on deals, operations and Canadian infrastructure, written for the people who run the trucks.
Canadian infrastructure, announced versus built
Eighteen major projects, graded on evidence rather than headlines, every line dated. The September 2026 edition, with what has moved since.
On buying and selling a business
What owners can expect from a sale, written from across the table.
Rivalries don't start in the field
Crews take their cue from the people at the top. That's where integration starts, and the first test is how your team hears about the sale.
Lee CampbellReadSkeletons don't kill deals. Secrets do.
Every business has problems. What matters is whether they are on the table.
Bradley MacDonaldRead“We signed the LOI. Why is the price moving?”
The number in a letter of intent rests on assumptions. Here is what happens when diligence tests them.
Bradley MacDonaldReadHalf of diligence happens on the yard
The books tell you where a business has been. The yard tells you where it is going.
Bradley MacDonaldReadYou can win the deal and lose the partner
When the seller stays on to run the business, the negotiation is the first day of the partnership.
Bradley MacDonaldReadThe busiest operators get squeezed first
The work is rarely the problem. The financing underneath it often is.
Bradley MacDonaldRead