Stantec signs letter of intent to acquire US-based Paleo Solutions, deepening archaeology and paleontology expertise
03 August 2021 - 10:45PM
TSX, NYSE: STN
Global engineering and design firm Stantec has
signed a letter of intent (set to close in Q4) to acquire Paleo
Solutions, a full-service natural resources and cultural resources
management consulting firm. Paleo Solutions provides
paleontological and archaeological services for the rail,
transportation, water, and power and energy sectors across the
western United States. The financial terms of the transaction were
not disclosed.
Founded in 2004, Paleo Solutions’ 65+ person
team includes paleontologists, geologists, archaeologists,
architectural historians, program managers, and GIS specialists.
The acquisition of Paleo Solutions, which has established a strong
presence in supporting renewable energy, electrical generation, and
transmission projects, is a continuation of Stantec’s commitment to
sustainability. Paleo Solutions will provide added depth to
Stantec’s current Archaeology team and new expertise in
paleontology across the firm’s US Pacific and Mountain Regions.
“Paleo Solutions and Stantec are committed to
sustainable, responsible project delivery,” said Gord Johnston,
President and Chief Executive Officer, Stantec. “Paleo Solutions
adds a talented group of team members with a shared passion for
bettering communities across the globe and will be a terrific
addition to our growing Environmental Services team. Paleo
Solutions’ expertise in paleontology and cultural resources
management greatly enhances the innovative solutions we can offer
to clients across the US and beyond.”
Paleo Solutions is headquartered in Los Angeles
(Monrovia), California with offices in Redlands, California and
Denver, Colorado. The firm has provided paleontological consulting
services on thousands of miles of transportation projects including
highways and railways throughout the western United States.
With net-zero carbon emissions standards gaining
momentum at state and federal levels, Paleo Solutions is
strategically positioned to capture a dominant share of the
paleontological and cultural resources market supporting the
renewable energy and transmission sectors. Additional market growth
is anticipated with federal and state agencies because of the new
administration and the Department of Interior’s new implementation
of regulations for the Paleontological Resources Preservation
Act.
Some notable projects in Paleo Solutions’ portfolio include
- Surveying, monitoring, and recording
of cultural and paleontological resources along line segments of
the Tehachapi Renewable Energy Transmission
Project for Southern California Edison. This is one of the
largest green-energy projects in North America, involving the
reconstruction of existing transmission facilities and new
construction of 500 kV transmission lines to carry electricity from
wind generation sites in the Tehachapi Mountains to the greater Los
Angeles area.
- Paleontological monitoring during
road grading and drilling of transmission structures within 14
sedimentary geologic formations in support of the Aeolus to Jim
Bridger portion of the Gateway West Transmission Line
Project for PacifiCorp.
- Paleontological resource services
for the Stateline Solar Farm Project for First
Solar, a 300 MW solar photovoltaic energy generation project on
1,999 acres of public land in California and Nevada. This included
pre-construction paleontological field surveys, a Paleontological
Monitoring and Mitigation Plan (PMMP), and execution of
paleontological monitoring while complying with federal
regulations.
“Stantec’s values align well with ours and we’re
incredibly excited to join their growing team in the Western United
States,” said Geraldine Aron, Paleo Solutions’ CEO and Programs
Director. “Both Paleo Solutions and Stantec value environmental
sustainability and preservation of natural and cultural resources,
and we look forward to marrying our enthusiasm and expertise with
Stantec’s global footprint.”
About StantecCommunities are
fundamental. Whether around the corner or across the globe, they
provide a foundation, a sense of place and of belonging. That's why
at Stantec, we always design with community in mind.
We care about the communities we serve—because
they're our communities too. This allows us to assess what's needed
and connect our expertise, to appreciate nuances and envision
what's never been considered, to bring together diverse
perspectives so we can collaborate toward a shared success.
We're designers, engineers, scientists, and
project managers, innovating together at the intersection of
community, creativity, and client relationships. Balancing these
priorities results in projects that advance the quality of life in
communities across the globe.
Stantec trades on the TSX and the NYSE under the symbol STN.
For more information about Stantec’s response to COVID-19, visit
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Media
Contact Danny
CraigStantec Media RelationsPh (949)
923-6085danny.craig@stantec.com
Investor ContactTom McMillanStantec Investor
RelationsPh (780) 917-8159tom.mcmillan@stantec.com
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