Churchill Corp. is acquiring Vancouver-based Seacliff Construction. for $390 million in a cash deal that will double its size.

Merging with the 1,600-employee Seacliff, which had $614 million in revenue last year, will create an “unparalleled” company diversified across many business lines, regions and customers, Churchill CEO Jim Houck said Monday.

“We believe that the addition of Seacliff to the Churchill family will take our services to a higher level, enabling the company to access new markets both in building construction and industrial services.”

“Additionally, the ability to pool talent and resources will allow us to create a more diversified electrical services group and ultimately realize common goals.”

It will also allow the new company to bid on projects neither could do separately, Houck said.

Seacliff focuses on general contracting, electrical and earthmoving services with 24 locations across five provinces.

Calgary-based Churchill, through its subsidiaries Stuart Olson Construction, Laird Electric and Insulation Holdings Inc., had $600 million revenue last year.

Churchill’s (TSX: CUQ) offer was a 20-per-cent premium over Seacliff’s (TSX: SDC.TO) most recent stock price.

Churchill’s Stuart Olson Construction and Seacliff’s flagship Dominion Construction will be run by one management team, Houck said.

Churchill moved its head office from Edmonton to Calgary last year.

Churchill shares were down 3.7 per cent to $18.24 in morning trading.

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