Business
Stantec to acquire Page, a US-based full-service design, architecture, and engineering firm
WASHINGTON and EDMONTON, Alberta and NEW YORK, April 03, 2025 (GLOBE NEWSWIRE) -- TSX, NYSE:STN...
About this update from Stantec Inc
[{"type":"text","content":"Stantec to acquire Page, a US-based full-service design, architecture, and engineering firm\n\n\n\n WASHINGTON and EDMONTON, Alberta and NEW YORK, April 03, 2025 (GLOBE NEWSWIRE) --\n \n TSX, NYSE:STN\n \n\n\n\n Highlights:\n \n\n\n\n Acquisition positions Stantec as the second largest architecture firm in the US and greatly strengthens its position as the largest integrated engineering and architecture firm in North America\n \n\n Significantly enhances Stantec’s service offerings in some of the fastest growing segments and regions of the US\n \n\n Continues to advance the achievement of Stantec’s targets in its 2024-2026 Strategic Plan\n \n\n\n\n\n Stantec\n \n , a global leader in sustainable design and engineering, has signed a definitive purchase agreement to acquire\n \n Page\n \n , a 1,400-person architecture and engineering firm headquartered in Washington, DC.\n \n\n Page is a leading, nationally recognized US-based architecture and engineering firm. The acquisition will deepen Stantec’s expertise and resources in key growth areas such as advanced manufacturing, data centers, and healthcare, while adding new capabilities in cleanroom design and fabrication facilities. It also strengthens Stantec’s US offering in mission critical, academic, civic, cultural, aviation, science and technology, and commercial.\n \n\n “Page is a respected architecture and engineering firm with shared values and a commitment to design excellence and innovation,” said Gord Johnston, president and chief executive officer of Stantec. “This acquisition will greatly support our strategic market growth in our Buildings business while enabling us to leverage our expanded platform to better serve our North American clients and grow our worldwide market presence.”\n \n\n With the addition of Page, Stantec’s US\n \n Buildings practice\n \n will grow by approximately 35 percent and the Company’s overall US employee headcount will expand to approximately 13,500 people.\n \n\n The acquisition is expected to close upon receipt of required regulatory approvals. The terms of the transaction are not disclosed. Stantec intends to fund the acquisition through existing funds and credit facilities. Post close, the Company expects to remain within its internal range of 1.0x to 2.0x net debt to ad...