- AtkinsRéalis Group (TSX:ATRL) has successfully completed its previously announced plan to acquire a 70 per cent stake in David Evans Enterprises, Inc.
- The engineering services and nuclear technology company values this transaction at around US$300 million, marking a significant milestone for AtkinsRéalis as it expands its footprint in the Western United States
- David Evans specializes in transportation, power, water and environment, surveying and geomatics, land development markets, and staffing services
- AtkinsRéalis Group stock (TSX:ATRL) opened trading at C$69.28
AtkinsRéalis Group (TSX:ATRL) has successfully completed its previously announced plan to acquire a 70 per cent stake in David Evans Enterprises, Inc., the parent company of David Evans and Associates, Inc.
The engineering services and nuclear technology company values this transaction at around US$300 million, marking a significant milestone achieved as it expands its footprint in the Western United States. David Evans operates 34 offices across 10 states and employs around 1,250 professionals. The firm specializes in transportation, power, water and environment, surveying and geomatics, land development markets, and staffing services
“This transaction aligns with our U.S. Land and expand strategy of acquiring firms possessing deep local customer relationships in high growth and whitespace markets,” company president and CEO, Ian Edwards, said in a news release. “It expands our reach in the Western U.S. transportation, water and power and renewables markets, while leveraging our combined strengths to deliver large-scale, complex projects.”
Founded in 1976, David Evans is an employee-owned engineering and staff augmentation services firm headquartered in Portland, Oregon.
The transaction is expected to close by the end of June, 2025.
AtkinsRéalis provides engineering and nuclear energy solutions across the world, including consulting, advisory and environmental services, intelligent networks and cybersecurity, design, procurement, project and construction management, operations and maintenance, decommissioning and capital.
AtkinsRéalis Group stock (TSX:ATRL) opened trading at C$69.28 and has risen 24.95 per cent since this time last year.
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(Top photo via AtkinsRéalis Group Inc.)