Stantec Makes Power Move With Page Acquisition, Eyes Top Spot In US Architecture

Stantec Inc STN, a sustainable engineering, architecture, and environmental consulting company, announced Thursday that it has signed a definitive agreement to acquire Page, a 1,400-person architecture and engineering firm headquartered in Washington, D.C. Financial terms were not disclosed.

Founded in 1898 in Austin, Texas, Page has offices in 20 cities across the U.S. and Mexico.

Stantec noted the acquisition makes it the second-largest U.S. architecture firm and expands its reach in high-growth sectors like healthcare, data centers, advanced manufacturing, and cleanroom design. It also reinforces Stantec’s 2024–2026 Strategic Plan and broadens its presence across civic, academic, and commercial markets.

Post-close, the company expects to maintain its target net debt to adjusted EBITDA range of 1.0x to 2.0x. The deal will grow Stantec’s U.S. Buildings practice by about 35% and increase its U.S. workforce to roughly 13,500.

“This acquisition will greatly support our strategic market growth in our Buildings business while enabling us to leverage our expanded platform to better serve our North American clients and grow our worldwide market presence,” said Gord Johnston, Stantec president and CEO.

Page’s signature projects include Austin’s 36-story Indeed Tower, NYU’s John A. Paulson Center, and the National Museum of African American History and Culture.

Stantec plans to fund the acquisition through existing cash and credit facilities. As of December 31, 2024, Stantec held cash and cash equivalents of $228.5 million.

Price Action: STN shares traded higher by 1.38% at $86.44 at last check Thursday.

Photo via Shutterstock.