Stantec Inc. has signed a deal to buy Cardno Ltd.’s North American and Asia Pacific engineering and consulting business for US$500 million.
The Edmonton-based company says the deal helps grow its environmental services business.
Cardno’s Latin American operations and international development business are not included in the deal.
The acquisition will add about 2,750 professionals to Stantec, nearly doubling its position in Australia to 2,500 employees and increasing its presence in the United States.
- Alberta government expects $100 payouts to arrive within 2 weeks of applications
- Alberta giving $100 energy rebates to some households — is yours one of them?
- SpaceX rockets past Amazon to become world’s 5th most valuable company
- Benefit payments are coming soon to those who qualify. Here’s how much
Get weekly money news
Stantec CEO Gord Johnston says the company has worked closely with Cardno for many years.
He says Cardno’s key strengths in ecosystem restoration, health sciences, infrastructure, water, and government services are complementary to his company’s own offerings in the United States and Australia.
Comments
Want to discuss? Please read our Commenting Policy first.