![Hydrock has been acquired by Stantec [©Rebecca Faith]](/assets/news_articles/2024/05/1714573645_hydrock-has-been-acquired-by-stantec---c--rebecca-faith.jpg)
Stantec completed its takeover of UK consulting engineer Hydrock on 30th April 2024. The terms have not been disclosed.
Hydrock was founded in Bristol in 1995 and now has 950 staff across 22 UK offices. Its services include fire safety, energy and sustainability, civil and structural, building services, transport, environmental and geotechnical services.
Hydrock Holdings generated turnover of 拢74m in the year to 31st March 2023, up 40% from 拢59m the previous year, and made a pre-tax profit of 拢2.7m. Turnover was boosted by the acquisitions during 2022 of 3e Consulting Engineers, Complete Design Partnership and SPL Track.
Hydrock founder Brian McConnell sold a majority stake in his business in 2018 to BGF (formerly Business Growth Fund), an investment company owned by a group of banks to provide venture capital for small and medium-sized businesses in the UK and Ireland.
With the sale to Stantec, and recently having turned 60, McConnell has now retired from the business.
鈥淭he coming together of Stantec and Hydrock is an ambitious and compatible evolution for both our firms in the UK,鈥� said Stantec鈥檚 executive vice president Cath Schefer. 鈥淗ydrock provides us with a highly complementary line of services and expertise which only reinforces our UK offering. Our combined experience, knowledge, and creativity, as well as our shared commitment to create better, more liveable places for people and communities, puts us in an exceptional position to deliver meaningful value for our industry-leading clients.鈥�
Hydrock managing director Scott Elliott said: 鈥淗ydrock鈥檚 people are united by a shared purpose to be a force for good. I鈥檓 delighted that this aligns so well with Stantec鈥檚 culture. Through our integration, we鈥檒l be able to expand our reach and influence internationally, penetrate exciting new markets, and provide excellent new career opportunities for our people. Together, we鈥檒l pioneer engineering solutions, drive energy resilience, and support this country鈥檚 vital transition to a low-carbon economy.鈥�
He added: 鈥淚鈥檇 like to thank our retiring founder Dr Brian McConnell for his tireless efforts growing the business over the last 29 years into what is now a highly respected national brand. This is a pivotal moment in our company鈥檚 history and an exciting new chapter for our colleagues and our clients.鈥�
Hydrock鈥檚 acquisition follows a period of both organic and acquisitive growth for Stantec. In the first four months of 2024, its staff numbers have grown by more 聽than 2,700 team members to more than 30,000 through the acquisitions of Zetcon in Germany, Morrison Hershfield in Canada, and now Hydrock.
Its previous UK acquisitions, all made in the past eight years, include Montgomery Watson Garza (MWH), ESI, Peter Brett Associates and Barton Willmore.
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