Stantec to buy Texas-based design firm Bury
Acquisition of 300-person firm will double Stantec's footprint in Texas
AUSTIN—Edmonton-based engineering and construction firm Stantec is doubling down on its operations in the Lone Star state.
The company, which also released its financial results for 2015 Feb. 25, said the acquisition will add about 300 employees to the Stantec banner across the southern U.S. Headquartered in Austin, Texas, Bury provides designs for surveying, land planning and landscape architecture work. Along with several offices in Texas, the company has divisions in Phoenix, Arizona, and Orlando, Florida.
“Bury’s extensive background in community development, coupled with their seasoned staff, will advance Stantec as a top-tier consultant in Texas.” Bob Gomes, Stantec president and CEO, said. “Together, we will provide client-centered, comprehensive design services and opportunities for staff development and engagement.”
In business for more than 30 years, the company has completed project across much of the southern U.S. The deal is expected to close in March.
Meanwhile, Stantec reported a revenue bump of 13.7 per cent through 2015, up to $2.9 billion from $2.5 billion in 2014. The company logged earnings of $306.3 million in 2015, up 3.9 per cent from $294.7 million a year earlier.
“Our Infrastructure and Buildings business operating units led our Company in growth, partly offsetting a retraction in our Energy & Resources business operating unit,” Gomes said. “We owe our continued profitability to the strength of our diversified business model and, as always, to our employees and their commitment to design with community in mind.”
Though mired by the energy sector’s slump, the company grew its backlog 22.2 per cent over the course of the year.