AtkinsRéalis to acquire majority stake in David Evans Enterprises, Inc.

AtkinsRéalis Group Inc. announced on February 18, 2025, that it has entered into a definitive agreement to acquire a majority stake in David Evans Enterprises, Inc., the parent company of David Evans and Associates, Inc. (collectively called “David Evans”), an employee-owned engineering and staff augmentation services firm headquartered in Portland, Oregon.

With 34 offices in 10 states and approximately 1,250 employees, David Evans serves the transportation, power, water and environment, surveying and geomatics, and land development markets, as well as staffing services.

Under the terms of the transaction, AtkinsRéalis will acquire a 70% stake in David Evans for approximately $300 million in cash payable at closing, with a clear path to entire ownership within a defined agreed time period.

David Evans will continue as a legal entity until then and its leadership team will remain in place and employee shareholders will remain minority shareholders in David Evans. The transaction is subject to customary closing conditions and David Evans’ shareholders’ approvals, and is expected to close in the first half of 2025.

"We are delighted to partner with the David Evans Enterprises, Inc. team,” said Ian Edwards, president and CEO of AtkinsRéalis, in a press release. “Together our two firms significantly enhance our geographic footprint and capabilities in a core growth market, aligning with our US Land and Expand strategy. By leveraging our combined strengths in the US, we are poised to drive innovation and deliver long-term value. For our strategy, this creates a Western US platform on which to grow both companies, capable of delivering comprehensive solutions to address our combined clients’ most critical challenges.”

David Evans generates approximately $275 million in annual revenue, with over 50% of this revenue coming from the Transportation sector. David Evans also consistently ranks among Engineering News Record’s Top 100 Pure Design firms in the United States and is ranked in the Top 5 in the Northwest Top Design Firms.

David Evans’ capabilities in water & environmental, land development, marine, survey and geomatics, and staffing services also allows AtkinsRéalis’ to further bolster its offerings across the whole of the U.S. with local, state and federal governments and private clients.

"The groundbreaking partnership between David Evans Enterprises, Inc. and AtkinsRéalis is aligned with our strategic vision and leverages our exceptional professional services in the Western United States and beyond”, said Al Barkouli, chairman and CEO of David Evans Enterprises, Inc., in a press release. “With highly complementary geographical footprints and technical expertise, this positions us as a leader with comprehensive project execution capabilities.”