PORTLAND, OR — AtkinsRéalis Group Inc., an engineering services and nuclear company with offices around the world, announces that it has entered into a definitive agreement to acquire a majority stake in David Evans Enterprises, Inc., the parent company of David Evans and Associates, Inc. (collectively called David Evans), an employee-owned engineering and staff augmentation services firm headquartered in Portland, Oregon. With 34 offices in 10 states and approximately 1,250 employees, David Evans serves the transportation, power, water and environment, surveying and geomatics, and land development markets, as well as staffing services.
Under the terms of the transaction, AtkinsRéalis will acquire a 70 percent stake in David Evans for approximately $300 million in cash payable at closing, with a clear path to entire ownership within a defined agreed time period. David Evans will continue as a legal entity until then, and its leadership team will remain in place. Employee shareholders will remain minority shareholders in David Evans. The transaction is subject to customary closing conditions and David Evans’ shareholders’ approvals, and it is expected to close in the first half of 2025.
"We are delighted to partner with the David Evans Enterprises, Inc. team. Together our two firms significantly enhance our geographic footprint and capabilities in a core growth market, aligning with our U.S. Land and Expand strategy. By leveraging our combined strengths in the U.S., we are poised to drive innovation and deliver long-term value," said Ian Edwards, President and Chief Executive Officer of AtkinsRéalis. “For our strategy, this creates a Western U.S. platform on which to grow both companies, capable of delivering comprehensive solutions to address our combined clients’ most critical challenges.”
Founded in 1976 and employee-owned, David Evans is a nationally recognized services firm known for its culture, innovative and sustainable design, and management and staffing solutions. The transaction will give both businesses immediate access and a leading position in the Western U.S. and complements a growing national presence. The future combination will further strengthen AtkinsRéalis’ U.S. business by increasing its total U.S. workforce by approximately 25 percent.
David Evans generates approximately $275 million in annual revenue, with over 50 percent of this revenue coming from the transportation sector.
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In addition to the complementary geographic footprint in the U.S., the investment in David Evans further strengthens AtkinsRéalis’ technical capabilities in full-scale transportation and infrastructure design. By leveraging its combined strengths in design and project management, the company further increases its ability to deliver large-scale complex projects, thus generating sustained long-term value for its clients and the communities it serves.
David Evans is a regional leader in transportation design and together with AtkinsRéalis’ U.S. and global expertise and capabilities in transportation surface design, will allow both firms to support the historical expansion of large-scale infrastructure needs within the state departments of transportation in the Pacific Northwest, California, and the Mountain West region. AtkinsRéalis’ rail and transit, signals, and systems design capabilities will augment David Evans’ regional experience and expertise in delivering mass transit projects to address network expansion in the Pacific Northwest and California.
David Evans’ capabilities in water and environmental, land development, marine, survey and geomatics, and staffing services also allows AtkinsRéalis’ to further bolster its offerings across the whole of the U.S. with local, state, and federal governments and private clients. Addressing the rapidly expanding power and renewables market, David Evans’ emerging capabilities will leverage AtkinsRéalis’ more than 100 years of experience in the power sector to address the clients’ needs driven by the energy transition.
This investment brings together two uniquely positioned and experienced companies in emergency response, staff augmentation, and management at the forefront of assisting communities coast to coast in responding and helping to recover when natural disasters strike. The firms share an understanding of clients’ needs and will immediately collaborate on projects together.
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"The groundbreaking partnership between David Evans Enterprises, Inc. and AtkinsRéalis is aligned with our strategic vision and leverages our exceptional professional services in the Western United States and beyond," said Al Barkouli, Chairman and Chief Executive Officer of David Evans Enterprises, Inc. “With highly complementary geographical footprints and technical expertise, this positions us as a leader with comprehensive project execution capabilities."
“David Evans and AtkinsRéalis thrive by prioritizing our people and leveraging world-class talent. By promoting professional development, enhancing skills, and engaging our team, we create a supportive environment where excellence is a core value, opening up more opportunities for both current and future employees," said Steve Morriss, President, U.S., Latin America, and Minerals & Metals of AtkinsRéalis. "This commitment to our people ensures we deliver exceptional results for our clients and communities.”
