Stantec to acquire MWH Global in US$795 million deal

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Stantec Inc. announced that it has entered into a merger agreement to acquire MWH Global, Inc., a Colorado-based global engineering, consulting and construction management firm focused on water and natural resources. The deal was announced March 29, 2016.

With the acquisition of MWH and its 6,800 worldwide employees, Stantec said it hopes to increase its global position in water resources infrastructure and earn a greater presence in key targeted geographies, including the United Kingdom, Australia, New Zealand, South and Central America, Europe and the Middle East.

Under the terms of the all-cash deal, unanimously approved by the boards of directors of both companies, Stantec will acquire all of the issued and outstanding capital stock of MWH for a purchase price of approximately US$793 million. The transaction is valued at approximately US$795 million after taking into account the estimated assumed net indebtedness of MWH.

Stantec president and MWH CEO
Bob Gomes, Stantec President and CEO (left) with Alan J. Krause, Chairman and CEO, MWH Global.

The acquisition must be approved by holders of at least two thirds of the MWH shares at a special meeting of MWH shareholders expected to be held in April 2016. It is subject to certain customary conditions, including approval under the U.S. Hart-Scott-Rodino Anti-Trust Improvements Act.
MWH has a network of approximately 187 offices in 26 countries. The firm has a history of engaging in engineering, construction and management consulting for some of the most technically significant water and natural resources projects in the world, including the Panama Canal Third Set of Locks Project.

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Key members of the management team of MWH will be joining Stantec after the acquisition closes, which is expected to be in the second quarter of 2016.

www.stantec.com

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