Stantec buying Cardno's North American and Asia Pacific engineering business
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.
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.
This report by The Canadian Press was first published Oct. 21, 2021.