Water and infrastructure consultant MWH Global is to be sold to Canadian consultant Stantec in a $793M (£552M) cash deal, it has been revealed today.
Stantec predominantly works in North America and through the acquisition hopes to geographically grow in markets including the UK, Australia, New Zealand, South and Central America, Continental Europe and the Middle East.
Colorado-based MWH has 6,800 employees 187 offices in 26 countries, while Stantec has 15,000 staff.
“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,” said Stantec president and chief executive Bob Gomes.
“We are excited to join the expertise and experience of Stantec and MWH in a transaction that will enable us to thrive and grow amid an increasingly complex industry landscape by strengthening our combined ability to solve the most pressing water, transportation and infrastructure challenges today,” said MWH chairman and chief executive Alan Krause.
Key members of the management team of MWH, including the presidents of key business units including Krause and chief financial officer David Barnes, will join Stantec in significant leadership positions after the Acquisition closes.