Engineering, consulting and construction management firm MWH is based in Broomfield, Colorado, and focuses on water and natural resources for built infrastructure and the environment. MWH, which took over the UK's Biwater in 2010, employs 6,800 people worldwide and has a network of approximately 187 offices in 26 countries.
Under the terms of the all-cash deal, unanimously approved by the boards of both companies, Stantec will acquire all of the issued and outstanding capital stock of MWH for a purchase price of approximately US$793m (£557m). The transaction is valued at approximately US$795m after taking into account the estimated assumed net indebtedness of MWH.
“MWH brings a global presence and reputation in water infrastructure that will advance Stantec’s position as a top-tier design firm within the highly attractive global water market,” says Bob Gomes, Stantec president and chief executive officer. “Together, we share a commitment to our communities and have the combined talent to support the most technically advanced clients and projects locally and around the world.”
“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 by strengthening our combined ability to solve the most pressing water, transportation and infrastructure challenges today,” says Alan Krause, MWH chairman and CEO. “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.”