AtkinsRéalis Completes Agreement to Acquire a Majority Stake in David Evans Enterprises, Inc.
AtkinsRéalis Completes Agreement to Acquire a Majority Stake in David Evans Enterprises, Inc. |
| [14-April-2025] |
Forming a Leading Growth Platform for the Western U.S. MONTREAL, April 14, 2025 /PRNewswire/ - AtkinsRéalis Group Inc. (TSX: ATRL), a world-class engineering services and nuclear company with offices around the world, has completed its previously announced plan to acquire a 70% stake in David Evans Enterprises, Inc., parent company of David Evans and Associates, Inc. (collectively "David Evans"), a leading employee-owned engineering and staff augmentation services firm headquartered in Portland, Oregon.
"This transaction aligns with our US Land and expand strategy of acquiring firms possessing deep local customer relationships in high growth and whitespace markets," said Ian L. Edwards, President and Chief Executive Officer, AtkinsRéalis. "It expands our reach in the Western U.S. transportation, water and power & renewables markets, while leveraging our combined strengths to deliver large-scale, complex projects." "David Evans' excellent industry reputation and our shared values—focused on client commitment and a people-first approach—make this an ideal partnership," said Steve Morriss, President, U.S., Latin America, and Minerals & Metals, AtkinsRéalis. "We now look forward to bringing the benefits of this collaboration to the market." "This partnership marks an exciting new chapter, combining our Western U.S. expertise with AtkinsRéalis' global capabilities," said Al Barkouli, Chairman & CEO of David Evans Enterprises, Inc. "Together, we will enhance our ability to deliver transformative infrastructure projects." About AtkinsRéalis Created by the integration of long-standing organizations dating back to 1911, AtkinsRéalis is a world-class engineering services and nuclear company dedicated to engineering a better future for our planet and its people. We create sustainable solutions that connect people, data and technology to transform the world's infrastructure and energy systems. We deploy global capabilities locally to our clients and deliver unique end-to-end services across the whole life cycle of an asset including consulting, advisory & environmental services, intelligent networks & cybersecurity, design & engineering, procurement, project & construction management, operations & maintenance, decommissioning and capital. The breadth and depth of our capabilities are delivered to clients in strategic sectors such as Engineering Services, Nuclear and Capital. News and information are available at www.atkinsrealis.com or follow us on LinkedIn. About David Evans David Evans is a professional services consulting firm with offices in the Western United States, Mississippi, New York, and Texas. David Evans specializes in design for transportation, land development, energy, and water and environmental infrastructure projects across the nation. The firm's staff includes engineers, surveyors, hydrographers, planners, landscape architects, and natural resources scientists. David Evans is consistently ranked among ENR's Top 100 Pure Design Firms in the U.S. In addition, David Evans' staffing subsidiaries focus on staff augmentation, contract-to-hire, and direct placement services. www.deainc.com Forward-Looking Statements References in this press release to the "Company", "AtkinsRéalis", "we", us" and "our" mean, as the context may require, AtkinsRéalis Group Inc. or all or some of its subsidiaries or joint arrangements or associates. Statements made in this press release that describe the Company's expectations or strategies constitute "forward-looking statements", which can be identified by the use of the conditional or forward-looking terminology such as "estimates", "expects", "forecasts", "intends", "may", "objective", "plans", "projects", "should", "will", "likely", or other variations thereon. Forward-looking statements also include any other statements that do not refer to historical facts. The Company cautions that, by their nature, forward-looking statements involve risks and uncertainties, and that its actual actions or results could differ materially from those expressed or implied in such forward-looking statements.Forward-looking statements are presented for the purpose of assisting investors and others in understanding certain key elements of the Company's current objectives, strategic priorities, expectations and plans, and in obtaining a better understanding of the Company's business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements made in this press release are based on a number of assumptions believed by the Company to be reasonable as at the date hereof. The assumptions are set out throughout the Company's 2024 annual management disclosure & analysis ("MD&A") (particularly in the sections entitled "Critical Accounting Judgments and Key Sources of Estimation Uncertainty" and "How We Analyze and Report our Results") filed with the securities regulatory authorities in Canada, available on SEDAR+ at www.sedarplus.com and on the Company's website at www.atkinsrealis.com under the "Investors" section. If these assumptions are inaccurate, the Company's actual results could differ materially from those expressed or implied in such forward-looking statements. In addition, important risk factors could cause the Company's assumptions and estimates to be inaccurate and actual results or events to differ materially from those expressed in or implied by these forward-looking statements. Those risks are identified in the Company's 2024 annual MD&A (particularly in the section entitled "Risk and Un certainties"), as may be updated from time to time in the Company's interim quarterly MD&A,are not exhaustive. The forward-looking statements herein reflect the Company's expectations as at the date of this press release and are subject to change after this date. The Company does not undertake to update publicly or to revise any such forward-looking statements whether as a result of new information, future events or otherwise, unless required by applicable legislation or regulation. The forward-looking information and statements contained herein are expressly qualified in their entirety by this cautionary statement.
SOURCE AtkinsRéalis | ||
Company Codes: Toronto:ATRL |
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