The deal boosts Stantec's buildings engineering capabilities
Duncan Cotterill has helped sustainable design and engineering company Stantec to acquire Christchurch-headquartered buildings engineering firm Cosgroves.
The deal boosts Stantec's buildings engineering capabilities in New Zealand, especially with regard to its fire engineering, electrical, mechanical, hydraulics, buildings sustainability, and civil capabilities. The acquiisition also broadens Stantec's presence in the region by about 10%.
"Our two firms have shared values and a history of working together, and our complementary strengths will support our strategic plan in a key region we’ve identified as a core area for growth", Stantec president and CEO Gord Johnston said in a Stantec press release.
The company noted that the uptick in public healthcare funding over the next 10 years would "require strong technical teams with local foundations and international experience to deliver projects that meet community challenges".
"As demand in the mission critical sector intensifies, the combined Cosgroves and Stantec team will be well positioned to increase market share across New Zealand, and in Australia", Stantec said.
Cosgroves founding director Brady Cosgrove added that by coming under the Stantec umbrella, Cosgroves was positioning itself "to capitalise on increased investments through our local relationships and Stantec’s international experience, while providing our staff with expanded opportunities to work on national and international projects".
Led by corporate partner Mark Cathro, the Duncan Cotterill team advised Stantec on the acquisition's negotiation, execution and completion. Cathro was supported by partners Gareth Clendinning and Sarah Townsend, as well as solicitors Georgia Day and Connor Jones.
Lefever Law's Christina Lefever provided legal support to Cosgroves.
