MONTREAL – Engineering firm AtkinsRéalis says it has reached a definitive agreement to acquire a majority stake in David Evans Enterprises, a Portland, Ore.-based company specializing primarily in the transportation sector.
The Montreal-based company, formerly known as SNC-Lavalin, announced on Tuesday after markets closed that it is purchasing a 70 per cent stake in the U.S. company for about US$300 million.
AtkinsRéalis may acquire the remaining 30 per cent stake “within a defined agreed time period,” the company said in a news release announcing the deal.
The deal, subject to approval by David Evans shareholders, would increase AtkinsRéalis’s U.S. workforce by about 25 per cent.
AtkinsRéalis expects the transaction to be completed during the first half of the year.
David Evans generates annual revenues of nearly US$275 million, 50 per cent of which comes from the transportation sector.
The company also serves the energy, water and environment, surveying and geomatics, and land development sectors, as well as providing staffing services. It has 34 offices across 10 states and approximately 1,250 employees.
“For our strategy, this creates a Western U.S. platform on which to grow both companies, capable of delivering comprehensive solutions to address our combined clients’ most critical challenges,” Ian Edwards, president and CEO of AtkinsRéalis, said in the release.
The company is set to release its fourth-quarter results on March 13.
This report by The Canadian Press was first published Feb. 18, 2025.
