Stantec Inc. has announced a merger with Broomfield, Colorado-based MWH Global—the biggest deal in the engineering and infrastructure design consulting companyt’s 62-year history.
The Edmonton-based firm announced that the all-cash deal with MWH Global, was unanimously approved by the boards of directors of both companies, and that Stantec will acquire all of the issued and outstanding capital stock of MWH for a purchase price of $793 million U.S. ($1.04 billion Cdn).
MWH is a s a global water and natural resources firm, providing technical engineering, construction services and consulting services.
“With the acquisition of MWH and its 6,800 worldwide employees, Stantec will gain a position as a global leader in water resources infrastructure while earning greater presence in key targeted geographies, including the United Kingdom, Australia, New Zealand, South and Central America, Europe and the Middle East,” said Bob Gomes, Stantec president and CEO in a press release.
“MWH brings a global presence and reputation in water infrastructure that will advance Stantec’s position as a top-tier design firm within the highly attractive global water market,”
MWH has a network of approximately 187 offices in 26 countries. The firm has a history of engaging in engineering, construction and management consulting for some of the most technically significant water and natural resources projects in the world, including the Panama Canal Third Set of Locks Project.
Alan Krause and David Barnes, MWH chief financial officer, are committed to joining Stantec after the Acquisition Closing Date to ensure a smooth and successful integration.
The Engineering and Technical Services offered by MWH to the energy and industrial sectors are expected to add global capabilities in water-related design services to Stantec’s key hydro-power, oil and gas, mining, and industrial clients.