Burke-Parsons-Bowlby is being acquired by a U.S.-based, wholly-owned subsidiary of Stella-Jones.

The announcement Monday stated that a letter of intent to acquire Burke-Parsons-Bowlby had been entered into in the amount of $33 million.

The acquisition will be in the form of a merger with the transaction expected to be completed April 1.

However, "the acquisition is subject to customary conditions, including entry into a definitive merger agreement, approval of the Burke-Parsons-Bowlby stockholders and the completion of satisfactory due diligence," says a press release.