Atkinsréalis, based Based on Portland, Ore. David Evans Enterprises, with plans to fully acquire the Professional Services Consulting Company On a later date, the company announced on February 18.
The cash transaction, which David Evans’s shareholders must approve Atkinsréalis participates in 1,250 people owned by employees Company and is expected to close in the second quarter.
“Our two companies significantly improve our footprint and geographical capabilities in a basic growth market, aligning with our strategy …” Atkinsréalis President and CEO Ian Edwards on announcing the purchase. He said that investment is also a springboard to grow the services offers of the west coast of the two companies.
The agreement is The first “significant acquisition” for the company since its predecessor SNC-Lavalin firm bought the UK ATKINS-based engineer in 2017, said Edwards.
David Evans has 34 offices in 10 states and generates more than 50% of its income, $ 275 million by 2024, in the transport sector. The company also offers services in power, water and the environment, a poll and geomatic engineering, as well as in staff services. The company is at number 109 on the list of Top 500 Enr design companies, with 64% of transport revenue and also lists among the 100 best pure Enr design companies.
Atkinsréalis, who Received by 2023, it is located at no. 9 in the list of global design companies of 2024 of Enr 2024 and no. 5 In the list of international design companies 2024 225.
The bond between the two companies “is aligned with our strategic vision and takes advantage of our exceptional professional services in the United States and beyond,” he said, “he said,” President and CEO of David Evans To Barkouli in a statement. He pointed out the “highly complementary geographical footprints and technical experience”.
Company Employees will retain minority participation, and the firm continues to operate as an independent legal entity and their leadership team is in its place.
“Atkinsrealis’s management has previously stated that it is open to M&A, especially in the United States attractive market, and the acquisition is a first (and probably not the last) in this direction,” said Maxim Sytchev, a bank analyst. National of Canada to a note of February 18. David Evans Buy adds a “important scale of the United States to the presence of Atkinsrealis in space [and] Exposure to water, the environment and the thematically attractive energy space, “he said.
“We look forward to a more aggressive cadence of M&A,” said Sytchev, once the company sells its bets on a company that owns the 407 Toll road in the north of Toronto, scheduled for the end of 2027, and the Linxon JV with Hitachi Energy focusing on electrical substations, with the two announced in 2024. Atkinsrealis reported a tight loss of 2.1 Millions of lynxon dollars in the third quarter but did not comment on when the sale process will be completed.
Sytchev said that the commitment of Atkinsrealis of “incremental capital with M & a suggests that the rest of the maternal ship must work well so that the management spends time on integration, said Sytchev.” We still believe that a much greater agreement in the United States would have after following the United States the 407 ETR divestment. “”
Atkinsrealis published profitable results from the second and third quarter last year, and announced to announce them for the end and fourth quarter of the year on March 13.
