Atkins Acquired By Canadian Construction Giants

Thinking Highways
By Thinking Highways May 8, 2017 12:43

Atkins Acquired By Canadian Construction Giants


Montreal-based engineering and construction firm SNC-Lavalin Group Inc has reached an agreement with WS Atkins plc, approved by the boards of directors of both companies, on the terms of a cash acquisition by which SNC-Lavalin will acquire the entire issued and to be issued share capital of Atkins for £20.80 per share in cash, representing an aggregate cash consideration of US$3.6 billion.

Headquartered in Epsom, UK, Atkins is one of the world’s most respected consultancies in design, engineering and project management, with a leadership position across the infrastructure, transportation and energy sectors. Tracing its roots back to 1938, Atkins today has 18,000 employees with revenues of approximately £2.0 billion in 2016, and is geographically diversified in the US, Middle East and Asia, together with a leading position in the UK and Scandinavia.

“We are very pleased to announce this proposed acquisition that is fully aligned with our growth strategy, creating a global fully integrated professional services and project management company – including capital investment, consulting, design, engineering, construction, sustaining capital and operations and maintenance. By combining two highly complementary businesses, we will increase our depth and breadth of services to position us as a premier partner to public and private sector clients,” said Neil Bruce, President & CEO of SNC Lavalin, who have their UK headquarters in Croydon. “It also creates new revenue growth opportunities in key geographies by positioning us to capitalize on increased cross-selling and the opportunity to win and deliver major projects in new regions. I look forward to welcoming Atkins’ employees into our combined company. Together, we will become part of a larger global organization that will open the door to new opportunities for further growth and development.”

Thinking Highways
By Thinking Highways May 8, 2017 12:43