Stantec to acquire Colorado-based engineering firm MWH Global for US$795M + MORE Mar 29th

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EDMONTON – Stantec Inc. is buying MWH Global Inc., a Colorado-based engineering, consulting and construction management firm, in an all-cash deal valued at US$795 million, including $2 million in debt.
Edmonton-based Stantec says the acquisition of MWH Global and its 6,800 employees around the world, will position it as a global leader in water resources infrastructure.
It will also boost its presence in a number of countries, including key targeted geographies that include the United Kingdom, Australia, New Zealand, South and Central America, Europe and the Middle East.
The acquisition will be financed through a combination of an equity financing and new credit facilities.
These include a bought-deal C$525-million public offering of subscription receipts at an offer price of $30.25 apiece, as well as up to an additional $79 million in gross proceeds under an over-allotment option.
Other financing will include an $800-million senior secured revolving credit facility, of which about $233 million will be drawn, and a $450-million senior secured amortizing non-revolving term credit facility…

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