MONTREAL - Alberta design firm Stantec (TSX:STN) is acquiring the engineering assets of Montreal-based Dessau and its 1,300 employees for an undisclosed price.
Stantec says the transaction, which is expected to close in the first quarter of 2015, will significantly strengthen its presence in Quebec.
Stantec CEO Bob Gomes says Dessau will strengthen the Alberta company's expertise in a variety of sectors including water, power, energy and infrastructure, while adding telecommunications and security services.
The acquisition is the latest in a wave of global consolidations in the engineering field and follows recent deals by WSP Global (TSX:WSP) and SNC-Lavalin (TSX:SNC).
Dessau recently came under scrutiny during the corruption inquiry in Quebec over illegal financing of political parties. The company was temporarily blacklisted by Quebec's securities regulator on the recommendation of the province's permanent anti-corruption unit. The Sauriol brothers who founded Dessau in 1957 left the company more than a year ago.
Stantec has more than 14,000 employees in more than 230 locations.
