A Montreal engineering firm said on Tuesday it will buy a $300 million stake in the parent of Portland-based David Evans and Associates.
Employee-owned David Evans has 1,250 workers, who do engineering, land surveying, transportation design and related work. Founded in 1976, it has 34 offices across 10 states, generating an estimated $275 million in annual revenue.
The cash agreement hands Canadian engineering firm AtkinsRéalis Group a majority ownership stake in parent company David Evans Enterprises when the deal closes in a few months. AtkinsRéalis said its 70% share will eventually expand to full ownership.
“Together our two firms significantly enhance our geographic footprint and capabilities in a core growth market,” AtkinsRéalis CEO Ian Edwards said in a news release.
The acquisition will bolster the Canadian company’s ability to work on large-scale infrastructure projects for transportation departments in the western U.S. AtkinsRéalis said its design capabilities for rail and transit will aid David Evans’ local expertise in mass transit projects in California and the Pacific Northwest.
Al Barkouli, Chairman and CEO of David Evans Enterprises, lauded the partnership, which he said “positions us as a leader with comprehensive project execution capabilities.”
— Jonathan Bach covers housing and real estate. Reach him by email at [email protected] or by phone at 503-221-4303.
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