1116 ET - Stantec's tuck-in acquisition of Ryan Hanley expands its Ireland footprint and strengthens its capabilities in the water sector. TD Cowen's Michael Tupholme says this has been a focus for the company since its 2023 investor day when "management highlighted its desire to build on Stantec's Ireland presence." He figures that RH generates annual net revenue in the mid-C$20 million range which could contribute Ebitda of C$3.6 million. "We see the deal as aligned with Stantec's overall growth strategy and expect it to strengthen its presence and capabilities in the Irish water sector," he says. Shares are up 1.1% to C$115.05. (adriano.marchese@wsj.com)
(END) Dow Jones Newswires
April 08, 2025 11:16 ET (15:16 GMT)
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