Stantec buys large Rochester, NY engineering firm
Stantec, one of Canada's two publicly traded consulting engineering firms, is about to make its largest acquisition...
Stantec, one of Canada’s two publicly traded consulting engineering firms, is about to make its largest acquisition yet of another company. Last week it signed a letter of intent to acquire Sear-Brown of Rochester, New York, a professional services firm with approximately 500 employees and 13 offices in the United States and Puerto Rico.
The transaction is subject to satisfactory due diligence, regulatory approval, and Sear-Brown shareholder approval. It is expected to close at the end of March 2004.
“Sear-Brown’s full service offering in engineering, architecture, and planning complements Stantec’s existing services and will give our Company a strong presence in New York State as well as an emerging presence in Pennsylvania, and Ohio — key market areas in the US,” said Tony Franceschini, Stantec President & CEO in a press announcement.
He said that the addition will help Stantec in its goal to become one of the top 10 global design firms.
Sear Brown was founded in 1955 in Rochester, and has several offices in other cities of New York State, in Colorado, North Carolina, Ohio and Pennsylvania. The firm works in the fields of advanced manufacturing, biopharmaceuticals facilities, municipal buildings, educational facilities, healthcare facilities, retail/commercial development, transportation, land development, and water and environment.
In 2003, Sear-Brown’s revenues were approximately US$50 million. Stantec currently has 18 offices in the US and more than 3,500 employees. It currently has 40 locations in the U.S. and the Caribbean, including two offices in New York State in Lancaster and Amherst.