Stantec to Acquire Morrison Hershfield, a Leading Transportation, Buildings, and Environmental Services Firm, Financial Terms Undisclosed
Benzinga Newsdesk 2 years ago
M&ANews
Stantec, a global leader in sustainable design and engineering, has signed an agreement to acquire Morrison Hershfield, a 1,150-person engineering and management firm headquartered in Markham, Ontario. Founded in 1946
Stantec, a global leader in sustainable design and engineering, has signed an agreement to acquire Morrison Hershfield, a 1,150-person engineering and management firm headquartered in Markham, Ontario. Founded in 1946 and employee-owned, Morrison Hershfield has a top-tier industry reputation in transportation, buildings, and environmental services. Morrison Hershfield has offices in 22 cities in Canada and the United States, and one office in India. With a particularly strong presence in Canada, Morrison Hershfield will increase Stantec's Canadian workforce by approximately 10%.
The acquisition, which is being completed by way of a court approved plan of arrangement, is subject to Morrison Hershfield shareholder approval, court approvals, and certain regulatory approvals and is expected to close in Q1 2024. The terms of the transaction are not disclosed.