Stantec Inc. (STN), a North American design firm, recently announced that it has acquired the assets of California based IBE Consulting Engineers and Vancouver based interior design firm AP/ID for an undisclosed amount.
Stantec will integrate both the companies and also give employment to all the employees of IBE and AP/ID. The acquisition of IBE will provide Stantec an opportunity to enter the building engineering space in the North American market and also provide Stantec an opportunity to exploit the western U.S. market. In addition, AP/ID’s client-focused approach and its long-term relationship with clients ranging from the banking and insurance sector to the mining sector will give Stantec an opportunity to provide an integrated service in the corporate and workplace design.
Thus IBE’s outstanding reputation in the engineering market and AP/ID’s excellent interior designs will open up new vistas for Stantec to expand its capabilities and strengthen its presence in key growing markets by providing comprehensive service in the infrastructure space.
IBE, which stands for “Ideas for the Built environment”, is engaged is buildings engineering firm and specializes in sustainable designs of mechanical, electrical, and plumbing (MEP) systems. IBE follows a green design approach and has worked on more than 300 high-performance architecturally significant projects with some of them being the world's first LEED-Platinum museum, UCLA's first LEED-certified structure, Water + Life Museum complex in Hemet, California and the La Kretz Hall.
AshleyPryce Interior Design (AP/ID) has been in the interior design service industry since the last 20 years. The company is well known for providing corporate office consulting and strategic workplace planning services.
Stantec works with public and private sector clients and provides them professional consulting services in areas like planning, engineering, surveying and project economics for infrastructure and facilities projects. The company has around 12,000 employees and operates in more than 200 locations in North America and 4 international locations.
Stantec currently carries a Zacks Rank #3 (Hold). Some other stocks within the consulting sector are Information Services Group, Inc. (III) carrying a Zacks Rank #1(Strong Buy), Accenture plc (ACN) and Exponent Inc. (EXPO), each carrying a Zacks Rank #2 ( Buy).
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