AtkinsRealis, formerly SNC-Lavalin, acquires a 70% stake in David Evans Enterprises, expanding its presence in the Western United States. This marks the company's first significant acquisition since its merger with Atkins in 2017.
AtkinsRealis, the Canadian engineering and construction giant, is back on the acquisition trail. The company, formerly known as SNC-Lavalin after its merger with Atkins in 2017, announced a US$300-million deal to acquire a 70% stake in Portland, Oregon-based David Evans Enterprises . This marks the firm's first significant acquisition since the 2017 merger.
Ian Edwards, president and CEO of AtkinsRealis, stated that the company has taken time to solidify its financial position, but is now ready to invest back into the business through acquisitions. The company aims to acquire the remaining 30% stake in David Evans within a pre-defined timeframe. The acquisition allows AtkinsRealis to expand its geographic reach in the United States, particularly in the western region. While AtkinsRealis has a strong presence in the southern U.S., David Evans' 34 offices across 10 states will significantly increase its workforce by 25% in the country. David Evans, with its 1,250 employees and annual revenue of nearly US$275 million, primarily operates in the transportation sector, accounting for over half of its revenue. The company also serves other sectors like energy, water, and environment, surveying and geomatics, land use planning, and staffing services.Edwards believes the American market presents significant growth opportunities, citing the aging infrastructure requiring extensive upgrades and repairs. He sees parallels between the U.S., Canada, and Europe, where infrastructure built in the 1950s and 1960s is nearing its end of life. Despite concerns about potential impacts from the Trump administration's budget decisions, Edwards remains optimistic, highlighting the essential nature of the infrastructure projects and the significant portion of contracts awarded by state governments. He emphasizes that these projects are crucial for maintaining transportation networks, ensuring clean water, and supporting economic activity
Atkinsrealis Acquisition David Evans Enterprises Infrastructure Transportation United States
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