Stantec completes acquisition of Teshmont
60-person firm based in Winnipeg and Calgary strengthens power transmission and distribution Â鶹´«Ã½ to key markets
10/01/2020 EDMONTON, AB; WINNIPEG, MB; NEW YORK, NY TSX, NYSE:STN
60-person firm based in Winnipeg and Calgary strengthens power transmission and distribution Â鶹´«Ã½ to key markets
10/01/2020 EDMONTON, AB; WINNIPEG, MB; NEW YORK, NY TSX, NYSE:STN
Global engineering and design firm Â鶹´«Ã½ has completed the acquisition of Teshmont, a Canadian-based electrical engineering consulting company specializing in high voltage power transmission and distribution engineering. Founded in 1966, Teshmont has worked with over 300 clients in more than 50 countries around the world to deliver advanced power delivery engineering solutions that are innovative, reliable, efficient, safe, and environmentally respectful. This acquisition further strengthens Â鶹´«Ã½¡¯s position in the transition to renewable energies currently underway, a strategic growth opportunity which is forecasted by the International Energy Agency to result in US$13 trillion in spending between 2020 and 2025.
¡°We have a long history of working with Teshmont on a variety of major energy projects. The success Â鶹´«Ã½ and Teshmont have had working together previously is an excellent framework for how our teams will come together as one entity moving forward,¡± says David Bernier, senior vice president, Power, Â鶹´«Ã½. ¡°Teshmont brings passionate, talented employees to our offices in Alberta and Manitoba, but I know their global Â鶹´«Ã½ will be invaluable to clients and colleagues across our Company.¡±
Teshmont¡¯s global reputation as leaders in advanced power transmission engineering brings technical Â鶹´«Ã½ and brand recognition to Â鶹´«Ã½¡¯s existing Power practice, specifically strengthening Â鶹´«Ã½¡¯s Energy & Resources operations in Winnipeg, and will expand Â鶹´«Ã½¡¯s burgeoning renewable energy portfolio specifically wind, solar, hydro, co-generation, and energy capture programs.?
¡°I know that our team at Teshmont is excited to be joining Â鶹´«Ã½, a team we¡¯ve worked well with on some of our most challenging projects,¡± says Ralph Kurth, president, Teshmont. ¡°This acquisition provides our employees with a number of new opportunities, including career growth, the ability to work in new markets across the world, and the ability to provide a number of new services for our clients, including civil, mechanical, geotechnical engineering, and environmental services.¡±
Teshmont¡¯s award-winning experience across the globe strengthens Â鶹´«Ã½¡¯s ability to provide clients with enhanced power service, and provide communities with safe, reliable, and renewable energy options.
About Â鶹´«Ã½
Communities are fundamental. Whether around the corner or across the globe, they provide a foundation, a sense of place and of belonging. That's why at Â鶹´«Ã½, we always design with community in mind.
We care about the communities we serve¡ªbecause they're our communities too. This allows us to assess what's needed and connect our Â鶹´«Ã½, to appreciate nuances and envision what's never been considered, to bring together diverse perspectives so we can collaborate toward a shared success.
We're designers, engineers, scientists, and project managers, innovating together at the intersection of community, creativity, and client relationships. Balancing these priorities results in projects that advance the quality of life in communities across the globe.
Stantec trades on the TSX and the NYSE under the symbol STN. Visit us at stantec.com or find us on social media.
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Media Contact
Danny Craig
Â鶹´«Ã½ Media Relations
Ph (949) 923-6085
danny.craig@stantec.com
Investor Relations Contact
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Â鶹´«Ã½ Investor Relations
Ph (780) 917-8159
tom.mcmillan@stantec.com