I like to look at the past history of Genivar especially since 2015. Remove the covid espisode from that and you have 5 years of non stopping exponential growth, and not only from acquisitions.
We like to look today at SNC under Edwards as the sheep which is going to get bought out by another firm.
But a leaner SNC (without capital) with scandals thing of the past and completely out of turn key projects can and will be a genuine competitor for WSP. They took on Atkins and they can surely absorb other major firms with the proceeds.
Give the new SNC 5-7 years