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Enterprise

Listed Canadian engineering firm Stantec swoops for Hydrock

The 海角视频 company employs 950 staff across its 22 offices

Hydrock founder Brian McConnell (left) and Paul Oldham, investor at BGF(Image: Francis Hawkins 漏 SWNS.com)

An engineering design business that employs hundreds of staff across the 海角视频 has been acquired by Canada-based consultancy Stantec for an undisclosed sum.

Hydrock is headquartered in Bristol and has 950 employees in 22 offices, including in Birmingham, Manchester, Cardiff, Glasgow, Newcastle, Truro, Gloucester and Plymouth. The company is backed by capital growth investor BGF.

Stantec is a sustainable design and engineering firm listed on the Toronto and New York Stock Exchanges. It has grown its global workforce by 2,700 in the first four months of 2024 through a number of acquisitions.

The deal coincides with the retirement of Hydrock chief executive and founder Brian McConnell after 29 years. Dr McConnell said: “BGF has been an excellent partner and its investment in the business has played a critical role in our growth story.

"Over the course of the investment partnership, Hydrock has expanded its services and reach which has been supported through a programme of strategic acquisitions. I’m proud of the progress we have made in the last six years – all while keeping our distinctive culture very much alive.”

Cath Schefer, Stantec’s executive vice president and chief operating officer for global, said: "The coming together of Stantec and Hydrock is an ambitious and compatible evolution for both our firms in the 海角视频."

BGF, which has backed Hydrock since 2018, has provided £5.6m to support the company's growth plans since its original investment. It has also helped fund the acquisition of seven consultancy businesses.

Paul Oldham, investor at BGF, added: "It has been a privilege to be part of Hydrock’s fantastic growth journey and we wish the entire team all the best for their next exciting chapter.”