August 12, 2025

Grey Cardinal Management Inc. and MacLeod Group Ventures are proud to announce a milestone minority investment, strengthening their long-standing relationship. This step builds on years of successful collaboration and reflects a shared commitment to empowering growth in the Maritimes’ healthcare and infrastructure sectors.

Grey Cardinal, led by President Jon Mullin and Vice President Donna Hoar, will continue to operate independently and maintain its client base, while collaborating with MacLeod Group on planned projects in Glace Bay, Port Hawkesbury, Shelburne, and Annapolis Royal. Ramsay Duff, CEO of MacLeod Group, will join Grey Cardinal’s Board of Directors.

“This is a big moment for us,” said Jon Mullin, President of Grey Cardinal. “We’ve always had a great working relationship with the team at MacLeod Group, and we’re thrilled to have their support as we continue to grow.”
“Our leadership team continues to guide the direction of our company, and our commitment to delivering consistent, high-quality work to all our clients remains the same,” said Donna Hoar, Vice President of Grey Cardinal.

As a result of this transaction, Grey Cardinal is better positioned to further invest in its people, processes, and project delivery, while continuing to operate with the same leadership and approach that has earned the trust of clients across the Maritimes.

“Grey Cardinal is a team we know and deeply respect,” said Ramsay Duff, CEO of MacLeod Group. “This collaboration reflects our confidence in their leadership, integrity, and capacity to deliver meaningful projects that support the health of our communities.”