Dutch engineering consultancy Arcadis announced on July 28 that it will buy Spanish electrical design and engineering specialist Satel as it looks to strengthen its network modernization, renewable energy and data center hyperscale capabilities across Europe.
Terms of Arcadis’ acquisition deal with Satel, which is expected to add 250 employees to its workforce, were not disclosed. The acquisition announcement comes after the Amsterdam-based company confirmed in a press release that it received another unsolicited, conditional non-binding offer from Canadian engineering giant WSP on July 23 to be acquired for $5.4 billion.
Arcadis’ board rejected WSP’s first offer, shared on July 14 for €48.50 per share, over strategic and cultural concerns and said it “fundamentally undervalued the company”.
In a press release, Arcadis’ first American and female CEO Heather Polinsky said the acquisition of Satel “expands our ability to support customers as investment accelerates in networks, renewable energy, data centers and resilient infrastructure. Together, we are helping to deliver the critical infrastructure that will underpin Europe’s energy transition and enable its digital future.”
With Spain expected to inject some $22 billion into modernizing its electricity grid by 2030, Satel’s experience in providing high-voltage electrical infrastructure is already well positioned for this build, with Arcadis noting in its press release that the company has participated in projects involving more than 20,000 km of high-voltage transmission lines and more than 1 substation.
Satel CEO Pablo Bernat added that joining Arcadis is a “natural next step” for the company’s business and “creates new opportunities for Satel’s people and customers, expanding our range of expertise and global delivery capability.”
An Arcadis spokesperson told ENR that Polinsky is expected to address the strategy behind the Satel acquisition during a second-quarter earnings call on July 30. According to the company, its 2026 results to date demonstrate “positive operating momentum” as it pursues a strategy to “accelerate growth, improve margins and enhance cash generation” and strengthen shareholder value.
Looking for quick answers on construction and engineering topics?
Try Ask ENR, our new intelligent AI search tool.
Ask ENR →
This strategy appears to have played a major role in WSP’s bid to bring the company to the negotiating table with an improved offer.
“To date, the Arcadis Boards have not accepted WSP’s multiple invitations to discuss the proposals and negotiate an amicable and recommended transaction,” WSP said in a press release, confirming the submission of its proposal. “WSP reiterates its invitation to Arcadis’ boards to discuss its latest proposal and address any remaining concerns through constructive engagement.”
In recent years, WSP has made headlines for taking on US industry leader TRC Cos. Inc. amid rumors last year that it was also looking to add Jacobs to its portfolio of companies.
Arcadis is frequently listed in ENR’s top 225 international design firms. The 2026 list will be published in August.
WSP topped last year’s list of 225 international design firms, with revenue of $8.9 billion.
