Stantec to acquire Page, a US-based full-service design, architecture, and engineering firm
Stantec (NYSE:STN) has signed a definitive agreement to acquire Page, a 1,400-person architecture and engineering firm headquartered in Washington, DC. The strategic acquisition will position Stantec as the second largest architecture firm in the US and strengthen its position as North America's largest integrated engineering and architecture firm.
The acquisition will expand Stantec's expertise in key growth areas including advanced manufacturing, data centers, and healthcare, while adding new capabilities in cleanroom design and fabrication facilities. With Page's integration, Stantec's US Buildings practice will grow by approximately 35% and its US employee headcount will expand to about 13,500 people.
Page, founded in 1898, operates across 20 cities in the US and Mexico. The company's portfolio includes notable projects such as the Indeed Tower in Austin, Terminal B at George Bush Intercontinental Airport, and the National Museum of African American History and Culture. The transaction will be funded through existing funds and credit facilities, with the company expecting to maintain its net debt to adjusted EBITDA ratio within 1.0x to 2.0x.
Stantec (NYSE:STN) ha firmato un accordo definitivo per acquisire Page, un'azienda di architettura e ingegneria con 1.400 dipendenti con sede a Washington, DC. Questa acquisizione strategica posizionerà Stantec come la seconda maggiore azienda di architettura negli Stati Uniti e rafforzerà la sua posizione come la più grande azienda integrata di ingegneria e architettura in Nord America.
L'acquisizione espanderà l'expertise di Stantec in aree chiave di crescita, tra cui manifattura avanzata, centri dati e assistenza sanitaria, aggiungendo nuove capacità nella progettazione di camere bianche e strutture di fabbricazione. Con l'integrazione di Page, la pratica degli Edifici di Stantec negli Stati Uniti crescerà di circa il 35% e il numero di dipendenti negli Stati Uniti aumenterà a circa 13.500 persone.
Page, fondata nel 1898, opera in 20 città negli Stati Uniti e in Messico. Il portafoglio dell'azienda include progetti notevoli come la Indeed Tower ad Austin, il Terminal B all'aeroporto intercontinentale George Bush e il Museo Nazionale della Storia e Cultura Afroamericana. La transazione sarà finanziata attraverso fondi esistenti e linee di credito, con l'azienda che si aspetta di mantenere il proprio rapporto debito netto su EBITDA rettificato all'interno di 1.0x a 2.0x.
Stantec (NYSE:STN) ha firmado un acuerdo definitivo para adquirir Page, una firma de arquitectura e ingeniería de 1,400 personas con sede en Washington, DC. Esta adquisición estratégica posicionará a Stantec como la segunda mayor firma de arquitectura en EE. UU. y fortalecerá su posición como la firma de ingeniería y arquitectura integrada más grande de América del Norte.
La adquisición ampliará la experiencia de Stantec en áreas clave de crecimiento, incluyendo manufactura avanzada, centros de datos y atención médica, mientras añade nuevas capacidades en diseño de salas limpias y instalaciones de fabricación. Con la integración de Page, la práctica de Edificios de Stantec en EE. UU. crecerá aproximadamente un 35% y su número de empleados en EE. UU. se expandirá a cerca de 13,500 personas.
Page, fundada en 1898, opera en 20 ciudades en EE. UU. y México. El portafolio de la empresa incluye proyectos notables como la Indeed Tower en Austin, la Terminal B en el Aeropuerto Intercontinental George Bush, y el Museo Nacional de Historia y Cultura Afroamericana. La transacción será financiada a través de fondos existentes y líneas de crédito, con la empresa esperando mantener su relación de deuda neta a EBITDA ajustado dentro de 1.0x a 2.0x.
Stantec (NYSE:STN)는 워싱턴 D.C.에 본사를 두고 있는 1,400명의 건축 및 엔지니어링 회사인 Page를 인수하기 위한 최종 계약을 체결했습니다. 이번 전략적 인수는 Stantec을 미국에서 두 번째로 큰 건축 회사로 자리매김하게 하고 북미 최대의 통합 엔지니어링 및 건축 회사로서의 입지를 강화할 것입니다.
이번 인수는 첨단 제조, 데이터 센터 및 의료를 포함한 주요 성장 분야에서 Stantec의 전문성을 확장하고 클린룸 설계 및 제작 시설에서 새로운 역량을 추가할 것입니다. Page의 통합으로 Stantec의 미국 건물 실무는 약 35% 성장할 것이며 미국 직원 수는 약 13,500명으로 확대될 것입니다.
1898년에 설립된 Page는 미국과 멕시코의 20개 도시에서 운영되고 있습니다. 이 회사의 포트폴리오에는 오스틴의 Indeed Tower, 조지 부시 인터컨티넨탈 공항의 터미널 B, 아프리카계 미국인 역사 및 문화 국립 박물관과 같은 주목할 만한 프로젝트가 포함되어 있습니다. 이번 거래는 기존 자금과 신용 시설을 통해 자금 조달될 예정이며, 회사는 순부채와 조정된 EBITDA 비율을 1.0배에서 2.0배 범위 내에서 유지할 것으로 예상하고 있습니다.
Stantec (NYSE:STN) a signé un accord définitif pour acquérir Page, une entreprise d'architecture et d'ingénierie de 1 400 personnes basée à Washington, D.C. Cette acquisition stratégique positionnera Stantec comme le deuxième plus grand cabinet d'architecture aux États-Unis et renforcera sa position en tant que plus grand cabinet d'ingénierie et d'architecture intégré en Amérique du Nord.
L'acquisition élargira l'expertise de Stantec dans des domaines clés de croissance, y compris la fabrication avancée, les centres de données et les soins de santé, tout en ajoutant de nouvelles capacités dans la conception de salles blanches et les installations de fabrication. Avec l'intégration de Page, la pratique des Bâtiments de Stantec aux États-Unis augmentera d'environ 35 % et son effectif aux États-Unis atteindra environ 13 500 personnes.
Page, fondée en 1898, opère dans 20 villes aux États-Unis et au Mexique. Le portefeuille de l'entreprise comprend des projets notables tels que la Indeed Tower à Austin, le Terminal B de l'aéroport intercontinental George Bush et le Musée national de l'histoire et de la culture afro-américaines. La transaction sera financée par des fonds existants et des lignes de crédit, l'entreprise s'attendant à maintenir son ratio de dette nette par rapport à l'EBITDA ajusté dans une fourchette de 1,0x à 2,0x.
Stantec (NYSE:STN) hat eine endgültige Vereinbarung zur Übernahme von Page, einem 1.400 Mitarbeiter zählenden Architektur- und Ingenieurbüro mit Sitz in Washington, D.C., unterzeichnet. Diese strategische Übernahme wird Stantec als zweitgrößtes Architekturunternehmen in den USA positionieren und seine Stellung als Nordamerikas größtes integriertes Ingenieur- und Architekturunternehmen stärken.
Die Übernahme wird Stantecs Expertise in wichtigen Wachstumsbereichen wie fortschrittlicher Fertigung, Rechenzentren und Gesundheitswesen erweitern und neue Fähigkeiten in der Planung von Reinräumen und Fertigungseinrichtungen hinzufügen. Mit der Integration von Page wird Stantecs US-Gebäudepraxis um etwa 35% wachsen und die Anzahl der Mitarbeiter in den USA auf etwa 13.500 steigen.
Page, gegründet 1898, ist in 20 Städten in den USA und Mexiko tätig. Das Portfolio des Unternehmens umfasst bemerkenswerte Projekte wie den Indeed Tower in Austin, Terminal B am George Bush Intercontinental Airport und das National Museum of African American History and Culture. Die Transaktion wird über vorhandene Mittel und Kreditlinien finanziert, wobei das Unternehmen erwartet, sein Verhältnis von Nettoverschuldung zu bereinigtem EBITDA im Bereich von 1,0x bis 2,0x zu halten.
- 35% growth in US Buildings practice
- Expansion into fast-growing sectors: data centers, advanced manufacturing, healthcare
- Addition of 1,400 skilled professionals
- Geographic expansion across 20 cities in US and Mexico
- Strengthens position as largest integrated engineering and architecture firm in North America
- Increased debt load from acquisition financing
- Integration risks with large workforce merger
- Regulatory approval pending for deal closure
Insights
Stantec's acquisition of Page represents a strategically significant move that substantially enhances the company's competitive positioning in the US architecture and engineering market. By adding Page's 1,400-person team across 20 locations, Stantec will become the second largest architecture firm in the US while strengthening its position as North America's largest integrated engineering-architecture firm.
The transaction aligns perfectly with Stantec's 2024-2026 Strategic Plan, targeting growth in high-value market segments. Most notably, this acquisition enhances capabilities in three rapidly expanding sectors: advanced manufacturing, data centers, and healthcare facilities. The addition of specialized expertise in cleanroom design creates differentiated capabilities that command premium margins.
From a financial perspective, Stantec's approach demonstrates disciplined capital allocation. The company plans to fund the acquisition through existing funds and credit facilities while maintaining its targeted net debt to adjusted EBITDA ratio within 1.0x-2.0x. This conservative financing approach preserves balance sheet flexibility for future opportunities while avoiding excessive leverage.
The 35% expansion of Stantec's US Buildings practice represents substantial operational growth that should drive meaningful scale efficiencies. Page's diverse project portfolio spanning academic, aviation, healthcare, and technology sectors complements Stantec's existing capabilities while providing expanded cross-selling opportunities across an integrated client base.
This acquisition fundamentally transforms Stantec's competitive positioning in the US architecture landscape. Page brings exceptional capabilities in specialized facility design that perfectly complements Stantec's engineering strength. The firm's expertise in mission-critical facilities, cleanrooms, and fabrication environments addresses growing demand from technology clients investing heavily in domestic infrastructure.
The transaction follows the architecture industry's consolidation trend, where integrated design-build capabilities increasingly determine which firms win complex, high-value projects. Page's impressive portfolio - including Indeed Tower in Austin, the National Museum of African American History and Culture collaboration, and advanced semiconductor manufacturing facilities - demonstrates their design excellence in precisely the sectors experiencing sustained investment growth.
Their prior collaboration on Sarasota Memorial's cancer facilities suggests cultural compatibility, potentially reducing integration challenges that typically plague architecture firm acquisitions. The merged entity will possess comprehensive capabilities spanning the entire project lifecycle from planning through construction across virtually all building typologies.
From a geographic perspective, Page's strong presence in key growth markets - including Texas tech hubs (Austin, Dallas), government/institutional centers (Washington DC), and innovation corridors (Boston, San Francisco) - provides Stantec expanded access to regions driving infrastructure spending. This complementary footprint creates opportunities to deploy integrated architecture-engineering teams on increasingly complex projects requiring multidisciplinary expertise - a capability few competitors can match at this scale.
WASHINGTON and EDMONTON, Alberta and NEW YORK, April 03, 2025 (GLOBE NEWSWIRE) -- TSX, NYSE:STN
Highlights:
- Acquisition positions Stantec as the second largest architecture firm in the US and greatly strengthens its position as the largest integrated engineering and architecture firm in North America
- Significantly enhances Stantec’s service offerings in some of the fastest growing segments and regions of the US
- Continues to advance the achievement of Stantec’s targets in its 2024-2026 Strategic Plan
Stantec, a global leader in sustainable design and engineering, has signed a definitive purchase agreement to acquire Page, a 1,400-person architecture and engineering firm headquartered in Washington, DC.
Page is a leading, nationally recognized US-based architecture and engineering firm. The acquisition will deepen Stantec’s expertise and resources in key growth areas such as advanced manufacturing, data centers, and healthcare, while adding new capabilities in cleanroom design and fabrication facilities. It also strengthens Stantec’s US offering in mission critical, academic, civic, cultural, aviation, science and technology, and commercial.
“Page is a respected architecture and engineering firm with shared values and a commitment to design excellence and innovation,” said Gord Johnston, president and chief executive officer of Stantec. “This acquisition will greatly support our strategic market growth in our Buildings business while enabling us to leverage our expanded platform to better serve our North American clients and grow our worldwide market presence.”
With the addition of Page, Stantec’s US Buildings practice will grow by approximately 35 percent and the Company’s overall US employee headcount will expand to approximately 13,500 people.
The acquisition is expected to close upon receipt of required regulatory approvals. The terms of the transaction are not disclosed. Stantec intends to fund the acquisition through existing funds and credit facilities. Post close, the Company expects to remain within its internal range of 1.0x to 2.0x net debt to adjusted EBITDA.
Founded in 1898 in Austin, Texas, Page has offices in 20 cities across the US and Mexico, including Houston, Austin, and Dallas in Texas; Denver, Colorado; New York City, New York; Boston, Massachusetts; Atlanta, Georgia; and San Francisco, California.
Stantec and Page have a shared history of providing design excellence as evident in their collaboration on the six-story, 150,000-square-foot Brian D. Jellison Outpatient Cancer Pavilion and the seven-story, 200,000-square-foot Outpatient Cancer Center Institute for Sarasota Memorial Health Care System in Sarasota, Florida.
“Together, we will support our clients with expanded reach, greater expertise, and deeper resources. Our strategic plans were to achieve domestic primacy and global influence for our team, joining Stantec positions us to accelerate these plans,” said Thomas McCarthy, Washington, DC-based chief executive officer of Page. “We are delighted to be joining Stantec and elevating the capabilities of our talented team.”
Page’s portfolio of projects
Offering a range of architecture, engineering, interior design, and urban design services, Page’s award-winning experience includes work in academic, advanced manufacturing, aviation, civic, commercial, government, healthcare, mission critical, and science and technology. Highlights of their portfolio include:
- Indeed Tower: Located in the heart of downtown Austin, Indeed Tower re-envisions an entire block with a new tower, renovated historic post office, and plaza. The new 36-story, glazed office tower offers a sculptural form and transparent base, making a mark on the city’s skyline.
- Terminal B Transformation Program at George Bush Intercontinental Airport: The three-level, 765,000-square-foot terminal features the largest United Club in the United system as well as 22 narrow-body gates, a sensory room, interactive multi-media park, and comfort spaces for passengers with disabilities.
- Semiconductor Manufacturer FAB A2 and Central Utility Plant: The largest wafer fabrication facility in the US when built, the 1.6 million-square-foot plant includes expansive Class 100 cleanroom; office support area for the client’s headquarters; and an expansion to the existing central utility building and support facilities.
- John A. Paulson Center at New York University: With design architect Kieran Timberlake, the new 735,000-square-foot mixed-use building provides new facilities for a wide range of university functions including performing arts, general academics, and athletics, as well as university housing for students and faculty.
- National Museum of African American History and Culture: In collaboration with Adjaye Associates, this award-winning, 400,000-square-foot museum in Washington, DC rethinks the role of civic institutions in the 21st century, offering new modes of user experience and engagement.
- Hackensack Meridian Health Helena Theurer Pavillion: Spanning 530,000 square feet, the facility in Hackensack, New Jersey, features nine floors of world-class acute care that provides comfort, safety, and privacy for patients and families.
About Stantec
Stantec empowers clients, people, and communities to rise to the world’s greatest challenges at a time when the world faces more unprecedented concerns than ever before.
We are a global leader in sustainable engineering, architecture, and environmental consulting. Our professionals deliver the expertise, technology, and innovation communities need to manage aging infrastructure, demographic and population changes, the energy transition, and more.
Today’s communities transcend geographic borders. At Stantec, community means everyone with an interest in the work that we do—from our project teams and industry colleagues to our clients and the people our work impacts. The diverse perspectives of our partners and interested parties drive us to think beyond what’s previously been done on critical issues like climate change, digital transformation, and future-proofing our cities and infrastructure.
We are designers, engineers, scientists, project managers, and strategic advisors. We innovate at the intersection of community, creativity, and client relationships to advance communities everywhere, so that together we can redefine what’s possible.
Stantec trades on the TSX and the NYSE under the symbol STN. Visit us at stantec.com or find us on social media.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements regarding the initiatives and projects described above. Forward-looking statements also include any other statements that do not refer to historical facts. By their nature, forward-looking statements are based on assumptions and subject to inherent risks and uncertainties. There is a risk that the initiatives and projects described above may be delayed, cancelled, suspended or terminated. This could cause future results to differ materially from the forward-looking statements made in this news release. Except as may be required by law, Stantec undertakes no obligation to publicly update or revise any forward-looking statements. Forward-looking statements are provided herein for the purpose of giving information about the initiatives and projects referred to above and their expected impact. Readers are cautioned that such information may not be appropriate for other purposes.
| Media Contact Susan Bender Stantec Media Relations Ph: (267) 773-9593 susan.bender@stantec.com | Investor Contact Jess Nieukerk Stantec Investor Relations Ph: (403) 569-5389 ir@stantec.com |
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