Edmonton-based Stantec strikes deal to sell its international construction arm – Edmonton
Canadian engineering-design big Stantec Inc. is promoting its development arm in a much-anticipated deal following a assessment begun final spring of the way to finest extract worth from the operation it purchased two and a half years in the past.
The Edmonton-based firm says it has an settlement to promote MWH Constructors, together with its U.Ok. and U.S. divisions and subsidiary Slayden Constructors Inc., to funds managed by Oaktree Capital Administration L.P., of Los Angeles.
No monetary particulars have been offered however RBC analyst Derek Spronck mentioned in a report he estimates Stantec will get proceeds of between $250 million and $350 million, assuming the worth is 5 to seven occasions adjusted earnings.
The development firm which focuses primarily on water and wastewater initiatives in the US and the UK was included in Stantec’s $1-billion buy of Colorado-based engineering, consulting and development agency MWH International, Inc. in 2016.
READ MORE: Stantec Tower now the tallest constructing in Edmonton – and it’s nonetheless rising
The acquisition additionally included water software program enterprise, Innovyze, Inc., which Stantec offered for $359 million in 2017.
In a information launch, Stantec says promoting each permits it to proceed to deal with its core consulting providers enterprise globally. The corporate says on its web site it has 22,000 employees in 400 areas on six continents.
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