Canadian consultant Stantec has acquired US water and natural resources firm MWH Global in an $800m cash deal.
Stantec hopes that it will become a global leader in water resources infrastructure, earning greater presence in areas such as the UK, Australia, South and Central America, Europe and the Middle East.
MWH, which is based in Denver, Colorado, currently has 6,800 employees in 187 offices in 26 countries.
The merger, which was unanimously approved by the boards of directors of both companies, will be carried out by Stantec buying the issued and outstanding capital stock of MWH.
Key members of MWH’s management team, including the presidents of business units, will join Stantec in leadership positions.
Alan Krause, MWH’s chief executive, and David Barnes, its chief finance officer, will also take jobs with Stantec.
Krause said: "We are excited to join the expertise and experience of Stantec and MWH in a transaction that will enable us to thrive and grow amidst an increasingly complex industry landscape.
"Our highly complementary cultures, shared approach to client service and extended global reach should yield multiple benefits for our clients, employees and the communities we serve."
Image: Bob Gomes, Stantec chief executive, and Alan Krause, MWH Global chief executive
