Varcon Construction

What Varcon Construction does

Varcon Construction Corporation is a family-owned heavy civil and ICI (Industrial, Commercial, Institutional) construction firm founded in 1994 by Angelo Riccio and headquartered in Concord, Ontario. The company delivers public and private infrastructure projects across Ontario through a self-perform model, using its own crews and owned fleet of excavators, earth movers, and heavy equipment rather than relying on subcontractors. Its core capabilities span general contracting, construction management, and design-build delivery, with self-performed services covering earth work, site services, form work, landscaping, and full infrastructure installation including watermain piping, sanitary and storm sewers, wastewater treatment facilities, pump stations, and elevated composite water towers.

The firm serves two primary customer segments: Ontario municipal, regional, and federal government clients (City of Toronto, Durham Region, Halton Region, Niagara Region, Region of Peel, TTC, Waterfront Toronto, Canadian Forces), and private commercial clients including retail, automotive, and institutional customers (Michaels, DSW, Pier 1 Imports, Volkswagen, University of Toronto). Revenue is generated through competitive bids for public-sector work and negotiated contracts for private-sector clients, with project-based, quote-based pricing. In addition to construction services, Varcon offers financing services covering real estate development financing, land development, construction mortgages, and take-out mortgages, positioning the company as a turnkey development partner.

The company employs 51–100 people and has been recognized on the PROFIT 500 ranking of Canada's Fastest-Growing Companies in 2013, 2014, and 2015, with reported five-year revenue growth of 269%, 234%, and 213% respectively. Notable projects include the $41.8M Canadian Forces Land Advanced Warfare Centre at CFB Trenton and the multi-phase King's Square International Centre in Markham. The Halton Interconnecting Watermain – Dundas St. Bridge project won multiple industry awards including the 2013 Ontario Infrastructure Concrete Award, 2014 Project of the Year (Structures), and 2015 Top Water Projects recognition. Leadership is concentrated within the Riccio family, with Angelo Riccio as Chairman/Founder and his son Vito Riccio as CEO.

Name

Varcon Construction

Legal name

Varcon Construction Corporation

Website

https://varconconstruction.com

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

51–100 employees

Short description

Varcon Construction is a family-owned Ontario-based heavy civil and ICI construction firm founded in 1994 that self-performs earth work, infrastructure, and building projects for Ontario municipalities, federal agencies, and private commercial clients using its own crews and equipment fleet.

Ownership category

akta.pro rank

Product category

Heavy Civil and ICI Construction Services

NAICS

Site Preparation Contractors (23891), Commercial and Institutional Building Construction (23622)

SIC

Heavy Construction Other Than Bldg Const - Contractors (1600), Water, Sewer, Pipeline, Comm & Power Line Construction (1623)

akta.pro primary industry

Construction Management & Delivery (EPCM/CMAR/Design-Build Oversight) (EUANALAE)

Keywords

• Heavy civil construction
• Infrastructure construction
• Construction management
• Design build services
• General contracting

Headquarters

HQ city

Concord

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Infrastructure, Operations, Marketing or Sales

Revenue model

1. General Contracting: Traditional general contracting services for new construction, rehabilitation and renovation projects. Revenue generated through competitive bids and negotiated contracts for both public and private sector clients.
2. Construction Management: Construction management services providing complete project oversight including scope management, costing, time management, safety and compliance.
3. Design Build: Design build services where the same firm handles both design and execution, offering time and cost savings for clients.
4. Infrastructure Projects: Large-scale infrastructure work including roads, watermain, sewers, wastewater treatment facilities, and related civil engineering projects.
5. Financing Services: Assistance in securing project financing including real estate development financing, land development, construction mortgages, and take-out mortgages. They do the legwork to help clients find financing agreements.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Varcon Construction delivers heavy civil and ICI (Industrial, Commercial, Institutional) construction services for public and private sector clients across Ontario. The company provides general contracting, construction management, and design-build delivery, executing earth work, site services, form work, landscaping, and infrastructure installation using its own people and equipment. It also offers project financing assistance covering real estate development, land development, construction mortgages, and take-out mortgages.

Product overview

Varcon Construction is a family-owned construction company offering comprehensive turnkey solutions for both private and public sector clients. The company operates a unified service model combining construction services (general contracting, construction management, design build, and self-perform services) with financing services (real estate development, land development, construction mortgages, and take-out mortgages). The self-perform capabilities (earth work, site services, form work, landscaping, and infrastructure) are central to their offering, allowing complete control over project timelines and costs without subcontracting markups.

Differentiator

Problem solved

Functional benefit

Products and services

• General Contracting
• Construction Management
• Design Build
• Earth Work
• Site Services
• Form Work Specialized form work for new construction or concrete rehabilitation, covering high or low-rise forming, architectural finishing, valve chambers, and underground tanks.
• Landscaping Commercial and large residential subdivision landscaping including hard and soft requirements, and green roof installation for building cooling and rain capture.
• Infrastructure Construction Self-performed infrastructure installation including watermain piping, sanitary and storm sewers, wastewater treatment facilities, pump stations, storm management systems, and elevated composite water towers.
• Real Estate Development Financing Assistance in finding suitable real estate for development plans, leveraging Varcon's two decades of industry experience.
• Land Development Financing Land development financing with in-house talent and heavy equipment, including site plan approval services.
• Construction Mortgages Construction mortgage arrangement services leveraging industry connections to secure the lowest possible rates for clients.
• Take-Out Mortgages Final-stage project financing arranged well in advance of completion to simplify the project closeout process.

Named customers13 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered minor.

• Cole EngineeringminorStrategic or Co-development PartnerConsultant partner for engineering projects including the 10 Ml Washburn Reservoir Expansion in the City of Burlington, ON. Provided engineering consulting services alongside Varcon's construction capabilities.
• R.V. Anderson & Associates Ltd.minorStrategic or Co-development PartnerEngineering consultant for the Reconstruction of RR25 from Lower Base Line to Britannia Road project for Halton Region. Provided design and engineering oversight for the trunk sewer installation.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Aecon Group: Canada's largest publicly traded construction and infrastructure development company with a dominant position in Ontario civil infrastructure, utilities, and concession projects — directly overlapping with Varcon's municipal water/wastewater and transit work.
• Bird Construction: Canadian ICI construction firm with deep institutional and industrial customer relationships across Ontario — competes for university, government, and commercial projects similar to Varcon's portfolio.
• PCL Construction: Canada-headquartered, North-American-scale general contractor with major ICI, civil, and heavy infrastructure operations — competes for the larger end of the same Ontario institutional and infrastructure awards.
• Graham Group: Western-Canadian-headquartered construction firm with significant civil infrastructure, ICI buildings, and self-perform capabilities across Canada, including Ontario.
• Pomerleau: Large Canadian ICI and civil construction contractor with a growing Ontario footprint, competing for institutional, commercial, and infrastructure mandates in adjacent segments.
• EllisDon: Major Canadian general contractor delivering buildings, civil infrastructure, and ICI projects across Canada with broad self-perform capabilities — competes for many of the same private and public sector mandates as Varcon.

Direct peers

• Maple Reinders: Ontario-based, mid-sized general contractor specializing in environmental/water/wastewater infrastructure, ICI buildings, and integrated project delivery — the closest comparable in size, geography, and self-perform water/wastewater focus to Varcon.
• Dufferin Construction (CRH): Ontario-headquartered heavy civil contractor under CRH focused on roads, bridges, sewers, and municipal infrastructure across the same provincial customer base as Varcon.

Regional players

• Rankin Construction: Ontario-based general contractor with self-perform civil, ICI, and infrastructure capabilities serving similar GTA-area municipalities and developers.

Others

• R.V. Anderson Associates: Ontario engineering firm specialized in water/wastewater, stormwater, and municipal infrastructure design — listed as a Varcon engineering partner and a meaningful ecosystem peer on the same Halton/Region projects.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xtwitter.com/VarconConstruct
• LinkedInlinkedin.com/company/varcon-construction-corporation

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Varcon Construction