STN - Stantec to acquire ZETCON Engineering a leading German infrastructure firm | Benzinga
EDMONTON, Alberta and NEW YORK and BOCHUM, Germany, Nov. 14, 2023 (GLOBE NEWSWIRE) -- TSX, NYSE: STN
Stantec, a global leader in sustainable design and engineering, has signed an agreement to acquire ZETCON Engineering, a 645-person engineering firm headquartered in Bochum, Germany. Founded in 1973, ZETCON has built a reputation as an industry leader in infrastructure planning, inspection, project management, and construction management. The terms of the transaction are not disclosed.
The acquisition of ZETCON gives Stantec a strong platform focused on infrastructure. ZETCON has a total of 13 offices covering all major German metropolitan areas. The firm has extensive industry expertise in bridge certification and assessment, project and construction management of tunnels, roads, and rail infrastructure, as well as building condition assessments, improvements, and certifications. ZETCON's national presence and expertise in the German market, combined with Stantec's global knowledge and capabilities, will provide the opportunity to further diversify the business and grow in other sectors over time. Stantec's global expertise in water and power engineering, buildings, advanced manufacturing, and environmental services offer potential for growth in the German market.
The German construction market is the largest in Europe at EUR427 billion (CAD$629.9 billion) in 2022. There is ongoing high demand for the renovation of German infrastructure–especially bridges, tunnels, railway construction, and power grids, all focus areas of ZETCON. Germany is planning significant upgrades to aging infrastructure while advancing its transition to sustainable energy sources. For example, the ...