Stantec completes acquisition of Teshmont
60-person firm based in Winnipeg and Calgary strengthens power transmission and distribution expertise to key markets
EDMONTON, Alberta and WINNIPEG, Manitoba and NEW YORK, Oct. 01, 2020 (GLOBE NEWSWIRE) -- TSX, NYSE:STN
Global engineering and design firm Stantec has completed the acquisition of Teshmont, a Canadian-based electrical engineering consulting company specializing in high voltage power transmission and distribution engineering. Founded in 1966, Teshmont has worked with over 300 clients in more than 50 countries around the world to deliver advanced power delivery engineering solutions that are innovative, reliable, efficient, safe, and environmentally respectful. This acquisition further strengthens Stantec’s position in the transition to renewable energies currently underway, a strategic growth opportunity which is forecasted by the International Energy Agency to result in US$13 trillion in spending between 2020 and 2025.
“We have a long history of working with Teshmont on a variety of major energy projects. The success Stantec and Teshmont have had working together previously is an excellent framework for how our teams will come together as one entity moving forward,” says David Bernier, senior vice president, Power, Stantec. “Teshmont brings passionate, talented employees to our offices in Alberta and Manitoba, but I know their global expertise will be invaluable to clients and colleagues across our Company.”
Teshmont’s global reputation as leaders in advanced power transmission engineering brings technical expertise and brand recognition to Stantec’s existing Power practice, specifically strengthening Stantec’s Energy & Resources operations in Winnipeg, and will expand Stantec’s burgeoning renewable energy portfolio specifically wind, solar, hydro, co-generation, and energy capture programs.
“I know that our team at Teshmont is excited to be joining Stantec, a team we’ve worked well with on some of our most challenging projects,” says Ralph Kurth, president, Teshmont. “This acquisition provides our employees with a number of new opportunities, including career growth, the ability to work in new markets across the world, and the ability to provide a number of new services for our clients, including civil, mechanical, geotechnical engineering, and environmental services.”