Stantec to Acquire Morrison Hershfield, a Leading Transportation, Buildings, and Environmental Services Firm, Financial Terms Undisclosed
Portfolio Pulse from Benzinga Newsdesk
Stantec, a sustainable design and engineering firm, has agreed to acquire Morrison Hershfield, an engineering and management firm known for its expertise in transportation, buildings, and environmental services. The acquisition will bolster Stantec's Canadian workforce by 10%. The deal is subject to shareholder, court, and regulatory approvals and is expected to close in Q1 2024. Financial terms were not disclosed.
January 09, 2024 | 11:47 am
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Stantec's acquisition of Morrison Hershfield is expected to strengthen its position in transportation, buildings, and environmental services, particularly in Canada, by increasing its workforce there by 10%.
The acquisition of Morrison Hershfield is likely to be viewed positively by investors as it expands Stantec's service offerings and market presence, particularly in Canada. The increase in workforce suggests potential for growth and increased market share, which could lead to a positive short-term impact on Stantec's stock price. However, since financial terms were not disclosed, the full impact on financials cannot be assessed, which introduces some uncertainty.
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