SNC to buy British firm for $3.6B
MONTREAL — SNC-Lavalin is making the largest transaction in its history after reaching an agreement to purchase British engineering and project management consultancy WS Atkins PLC for $3.6 billion.
The Montreal-based company announced the transaction Thursday, two weeks after it confirmed making a tentative offer. The deal, expected to close in the third quarter and to be approved by the boards of both companies, will enhance SNC-Lavalin’s size by boosting annual revenues to $12.1 billion and increasing employee numbers to 53,000.
Founded in 1938, WS Atkins has 18,000 employees and operates mainly in the U.K. and Scandinavia, along with the U.S., Middle East and Asia. About 86 per cent of its revenues are in infrastructure and 14 per cent in energy.