Stantec completes acquisition of select Cardno businesses to grow Environmental Services and Infrastructure footprint
08 Dezember 2021 - 9:45PM
Stantec (TSX, NYSE: STN), a global leader in sustainable design and
engineering, today announced that it has completed the previously
announced acquisition of the North America and Asia Pacific
engineering and consulting groups (“the Acquisition”) of Cardno
Limited (“Cardno”).
“Since announcing the Acquisition in October,
both Stantec and Cardno employees have been very eager to begin
collaborating with each other. I would like to welcome Cardno’s
2,750 employees to Stantec today and I look forward to the
tremendous opportunities that lie ahead,” said Gord Johnston,
President and Chief Executive Officer. “In Australia, Cardno nearly
doubles our presence and gives us the critical mass in talent and
services to establish ourselves as a major participant and propel
our growth in that market. In the US, we will benefit from our
increased presence in the environmental services space, and our
increased exposure to US stimulus spending. We are excited to have
Cardno’s talented employees on board to grow with us.”
Cardno shareholders voted overwhelmingly in
favor of the Acquisition, with more than 99% of voted shares
approving the Acquisition.
Pursuant to the agreement announced by both
firms on October 21, 2021, the Acquisition was completed for
aggregate cash consideration of US$500 million financed through
Stantec’s existing funds and credit facilities.
About Stantec
Communities 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. Visit us at stantec.com or find us on social media.
For further information:
Investor Contact |
Media
Contact |
Tom McMillan |
Danny Craig |
Stantec Investor Relations |
Stantec Media Relations |
Ph: 780-917-8159 |
Ph: 949-923-6085 |
tom.mcmillan@stantec.com |
danny.craig@stantec.com |
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