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- Stantec (NYSE:STN) to acquire Ontario-based Morrison Hershfield, a engineering and management firm, for an undisclosed sum.
- The development expands Stantec’s presence in most major Canadian markets, and further strengthens its US presence in buildings engineering. Likewise, Stantec’s global market presence and client relationships will accelerate Morrison Hershfield’s business line growth opportunities as part of Stantec.
- With a dominant foothold in Canada, Morrison Hershfield will expand Stantec’s Canadian team by approximately 10%.
- Furthermore, the both company’s share an understanding of market dynamics and client needs, which will help foster early and immediate collaboration on projects.
- The transaction is expected to close in Q1 2024.
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