(Updates to add acquisition of TOBIN and shares)
AtkinsRealis Group (ATRL.TO) entered into a definitive agreement to acquire Patrick J Tobin & Co. Ltd. (TOBIN), a leading Irish engineering and project management consultancy firm, it said Wednesday. No financial details were given.
"The acquisition supports AtkinsRealis' growth strategy in Ireland, further strengthening its local footprint to over 700 employees and bolstering its capabilities to support Ireland's ambitious program of infrastructure development," the company said in a statement.
Meanwhile, earlier Wednesday, the company also signed a Strategic Alliance agreement with First American Nuclear (FANCO) whereby the company will act as the exclusive engineering, procurement, and construction management (EPCM) provider for EAGL-1 small modular reactor (SMR) projects in North America.
Work has begun on the task orders, and the agreement contemplates services worth up to $250 million over the first five years, it said. Under the first task orders, AtkinsRealis will prepare procedures and policies required to do design work, such as a quality program and engineering procedures.
The company will also undertake the conceptual design for the balance of plant and review the design of the nuclear steam supply system.
Shares of the company were last seen down 0.9% at $88.12 on the Toronto Stock Exchange.
Price: $87.79, Change: $-1.11, Percent Change: -1.25%