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)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.