Acquisitions
SYSTRA Agrees to Buy Atkins' Scandinavian Unit for $102M
The acquisition would raise the transportation infrastructure presence of French engineer Systra, with its headquarters in Paris shown here.
Photo by Beon75/Creative Commons Attribution-Share Alike 4.0 International
French design firm SYSTRA SA has agreed to buy the Scandinavian business of U.K-based Atkins, which is part of Montreal-based professional services and project management firm SNC-Lavalin Group Inc., the parent firm has announced. Employing 770 people, the companies represent Atkins's Scandinavian transportation assets located in seven offices in Sweden, four in Denmark and one in Norway.
The transaction is valued at about $102 million, SNC-Lavalin said July 7, with the cash deal set to close in the fall.
SNC-Lavalin said the sale is part of the company's strategy to "reduce its risk profile" and accelerate growth in professional services and construction management.
The deal aims to ensure "that capital and human resources are deployed to the areas of our business with the highest value-creation potential," said CEO Ian Edwards.
SNC-Lavalin bought Atkins in 2017 for $2.67 billion.
Systra CEO Pierre Verzat said the acquisitions "are in line with our growth strategy in Europe and strongly confirm our presence in Sweden, Denmark and Norway, where governments are investing massively in transport infrastructure, particularly railways."
When completed, the purchases are set to raise Systra's Nordic presence in the transportation infrastructure business to nearly 1,100 staff.
With annual sales of around $1 billion, Systra ranks at No. 25 on ENR's 2022 Top 225 International Design Firms list, employing 9,500 people and ranking at No. 9 among firms in transportation.
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