Stantec to acquire Page, terms not disclosed

Stantec (STN) has signed a definitive purchase agreement to acquire Page, a 1,400-person architecture and engineering firm headquartered in Washington, DC. The acquisition is expected to close upon receipt of required regulatory approvals. The terms of the transaction are not disclosed. Stantec intends to fund the acquisition through existing funds and credit facilities. Post close, the company expects to remain within its internal range of 1.0x to 2.0x net debt to adjusted EBITDA.