Sustainable engineering and design leader Stantec Inc. (STN) has declared the intention to acquire Barton Willmore, a planning and design consulting firm in the U.K. and caters to both public and private sector clients across residential, logistics, retail, infrastructure, energy, higher education, and urban regeneration markets.
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The acquisition is expected to close in early April 2022, and follows a series of regional acquisitions by Stantec in the U.K. Notably, the addition of Barton Willmore, the largest independent, inter-disciplinary consultancy in the U.K., will expand Stantec’s presence across the U.K. to over 2,500 team members.
Management Weighs In
The COO of Stantec, Cath Schefer, commented, “It’s incredibly exciting to welcome Barton Willmore to our growing global team as we look to strengthen our project delivery expertise across several sectors. Barton Willmore’s master planning and urban design capabilities greatly enhance our ability to drive innovative solutions for clients across the globe.”
Lain Painting, Senior Partner, Barton Willmore, added, “Both Stantec and Barton Willmore are passionate about drawing on our shared expertise to deliver sustainable and lasting projects that improve communities around the world. By combining our respective technical and creative capabilities, plus our extensive collective strategic understanding, we believe we can deliver a real change to the UK market.”
Analysts’ Take
Recently, CIBC analyst Jacob Bout reiterated a Buy rating on the stock alongside a price target of $61.36, implying a potential 22.6% upside. Overall, the Street has a Strong Buy Consensus rating on Stantec based on 5 Buys and 1 Hold. The average Stantec price target of $60.84 implies a potential upside of 21.6% for the stock, at the time of writing.
Hedge Fund Activity
According to TipRanks data, Wall Street’s top hedge funds have increased holdings in Stantec by 10.7 thousand shares in the last quarter, indicating a neutral hedge fund confidence signal in the stock. Shares are up 22.4% over the past 12 months.
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