Canadian engineering and construction group SNC-Lavalin has completed its acquisition of UK-based design, engineering and project management consultancy WS Atkins for a total of about CAD3.6bn ($2.8bn).
By the end of the first full financial year, the acquisition is expected to deliver about CAD120m in cost synergies - CAD30m from SNC-Lavalin and CAD90m from Atkins. Heath Drewett, Atkins group finance director and executive director, now becomes President of Atkins, SNC-Lavalin’s fifth business sector, and a member of SNC-Lavalin’s executive committee, reporting directly to SNC-Lavalin's President and CEO Neil Bruce.
“SNC-Lavalin is continuing to deliver on its strategy of establishing itself in the top 3 in our industry globally. By combining our two highly complementary businesses, we are solidifying SNC-Lavalin’s position as one of the largest fully integrated professional services firms in the world, while improving our margins and balancing our business portfolio,” said Bruce.