Stantec, a prominent Canadian consulting firm, has expanded its UK workforce by over 30% through acquiring Hydrock.
- The acquisition was finalised on 30th April 2024, furthering Stantec’s growth strategy.
- Hydrock, founded in 1995, brings 950 skilled employees across 22 UK locations.
- This move aligns with Stantec’s goals of enhancing their service offerings and market reach.
- Stantec’s growth trajectory includes significant acquisitions, integrating expertise from several firms.
Stantec, a leading consulting engineer from Canada, has strategically expanded its footprint in the UK by acquiring Hydrock, a notable engineering firm based in the region. This significant acquisition, completed on 30th April 2024, has bolstered Stantec’s UK workforce by more than 30%, reflecting its commitment to expanding its influence and capabilities within the UK engineering sector.
Founded in 1995 in Bristol, Hydrock has established itself as a formidable entity with a robust team of 950 employees spread across 22 offices throughout the United Kingdom. The company’s expertise spans multiple domains including fire safety, energy and sustainability, civil and structural engineering, building services, transportation, environmental, and geotechnical services. This diverse portfolio not only enhances Stantec’s service offerings but also complements its existing operations, reinforcing its position in the market.
Hydrock’s financial performance has been impressive, with a reported turnover of £74 million for the year ending 31st March 2023, a notable increase from £59 million the previous year. This surge was partially driven by its strategic acquisitions such as 3e Consulting Engineers, Complete Design Partnership, and SPL Track in 2022. Furthermore, the business recorded a pre-tax profit of £2.7 million, highlighting its effective growth strategies prior to the acquisition.
The sale of Hydrock marks the retirement of its founder, Dr. Brian McConnell, who sold a majority stake in the business to BGF in 2018. With BGF’s backing, Hydrock flourished, culminating in this acquisition by Stantec. In response to the acquisition, Cath Schefer, Stantec’s Executive Vice President, emphasised the alignment of values and ambitions between the two firms, stating that Hydrock’s expertise will significantly enhance Stantec’s UK operations and contribute to creating better environments for communities.
Hydrock’s Managing Director, Scott Elliott, echoed these sentiments, highlighting the shared purpose and vision between the companies. Elliott is optimistic that the integration will enable expanded reach and entry into new markets while providing new career opportunities for employees. He further acknowledged Dr. McConnell’s pivotal role in the company’s development over nearly three decades, signifying a momentous transition in Hydrock’s history.
Stantec’s trajectory of growth through acquisitions is clearly evident with prior successful integrations, including companies like Zetcon and Morrison Hershfield, and now Hydrock. This strategic expansion aligns with its corporate vision of fortifying its market presence by leveraging complementary expertise from acquired firms, thereby driving energy resilience and aiding in the transition towards a low-carbon economy.
The acquisition of Hydrock by Stantec marks a pivotal advancement in Stantec’s strategic expansion in the UK.
