Stantec Signs Letter of Intent to Acquire SHW Group
May 06 2014 - 9:00AM
Marketwired
Stantec Signs Letter of Intent to Acquire SHW Group
Firm Enhances Stantec's Presence in Texas and Michigan,
Reinforces Buildings Practice with Specialist Expertise in
Education Planning and Design
EDMONTON, ALBERTA and NEW YORK, NEW YORK and DALLAS,
TEXAS--(Marketwired - May 6, 2014) - (TSX:STN)(NYSE:STN)
North American design firm Stantec has signed a letter of intent
to acquire SHW Group. SHW's education planning, design, and
engineering capabilities will reinforce Stantec's existing
education expertise in their pursuit of top-tier positioning in
this sector.
"Having SHW join Stantec bolsters our emerging presence in Texas
and Michigan," says Stantec president and CEO Bob Gomes, "and will
also help diversify Stantec's buildings practice by growing our
education sector in an expanding US market."
Founded in 1945, SHW is a nearly 300-person firm providing
architectural, interior design, planning, and engineering services
to higher education and K-12 clients. In addition to four offices
in Texas, SHW has four offices in the Midwest and Mid-Atlantic
states. The firm's clients include premier U.S. colleges and
universities like Texas A&M, University of Texas, Michigan
State, and The University of Michigan, as well as The University of
Virginia and Villanova University. SHW also has an expansive K-12
portfolio, having completed major building programs for numerous
school districts in Texas, Michigan, Virginia and Maryland. SHW is
consistently ranked as one of the nation's top 10 education design
firms, including #1 in Texas by Engineering News Record, and #2 in
the US K-12 market by Building Design & Construction's 2013
Giants 300 Report.
The acquisition is expected to be final in May 2014.
"Joining Stantec gives us a greater opportunity to bring
additional resources, expertise and services to our clients," says
Marjorie Simmons, chief executive officer at SHW. "Joining the
Stantec team will accelerate our ability to be a
globally-recognized education facility planning and design expert,
while offering our staff tremendous growth opportunities."
With these new additions, Stantec's team will total more than
180 in Texas, and the firm will have over 1,000 buildings
consulting professionals across the United States.
About Stantec
We're active members of the communities we serve. That's why at
Stantec, we always design with community in mind.
The Stantec community unites more than 13,000 specialists
working in over 200 locations. Our work-professional consulting in
planning, engineering, architecture, interior design, landscape
architecture, surveying, environmental sciences, project
management, and project economics-begins at the intersection of
community, creativity, and client relationships. With a long-term
commitment to the people and places we serve, Stantec has the
unique ability to connect to projects on a personal level and
advance the quality of life in communities across the globe.
Cautionary note regarding forward-looking
statements
This news release contains forward-looking statements. By
their nature, forward-looking statements require us to make
assumptions and are subject to inherent risks and uncertainties.
There is a significant risk that a number of factors could cause
actual future results to differ materially from the forward-looking
statements made in this news release. These factors include, but
are not limited to, the risk that the proposed transaction does not
close when expected or at all or that the anticipated benefits of
the transaction are not realized.
Media ContactTiffanie ReynoldsUS East Media RelationsPh: (813)
223-9500tiffanie.reynolds@stantec.comInvestor ContactCrystal
VerbeekStantec Investor RelationsPh: (780)
969-3349crystal.verbeek@stantec.comSHW Group ContactMarjorie
SimmonsChief Executive OfficerPh: (248)
336.4900MSimmons@shwgroup.com
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