Global architecture and engineering firm Stantec has struck a deal that allows it to climb nearly to the top of the ranks of the building design industry's largest companies.
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Stantec has agreed to purchase Washington, D.C.-based architecture and engineering firm Page, formerly known as Page Southerland Page. The move would make Stantec the second-largest architecture firm in the U.S., according to a release, behind Gensler.
California-based Stantec was the sixth-largest U.S. firm in 2024, according to Architectural Record, while Page — which was founded in Austin in 1898 — was 13th.
“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,” Stantec President and Chief Executive Officer Gord Johnston said in a statement.
While the terms of the transaction weren't disclosed, Stantec projects the acquisition will grow the company by 35% and bring its U.S. workforce to 13,500 employees.
Page employs 1,400 people in offices in 20 cities in the U.S. and Mexico, including New York City, Denver and Boston.
The acquisition is a change of pace for Page, which had been on its own run of buying other firms and assets.
Page acquired New York-based EYP Group Holdings’ assets out of bankruptcy in 2022 for $70.4M, Engineering News-Record reported. By the end of 2023, the company had also acquired Austin-based DB Structures and New York-based David Brody Bond.
The shopping spree made it the 10th-largest U.S. architectural firm in 2023, according to Architectural Record. It then went through a round of layoffs in May, Bisnow first reported, with a spokesperson attributing the cuts to the recent acquisitions, “macro forecasts and simplifying operations.”
“Our strategic plans were to achieve domestic primacy and global influence for our team, joining Stantec positions us to accelerate these plans,” Page CEO Thomas McCarthy said in a statement.
This won’t be the first time the companies have come together.
In 2021, Stantec and Page worked on the $193M, 150K SF Jellison Cancer Institute tower at the Sarasota Memorial Hospital in Florida, the Herald-Tribune reported. The joint venture also worked on the 200K Outpatient Cancer Center Institute for Sarasota Memorial Health Care System.
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