Stantec agrees to sell Innovyze

Global design firm Stantec recently announced it has signed an agreement for the sale of its software business, Innovyze, for $270 million (USD) to the EQT Mid Market U.S. fund, part of the international alternative investments firm EQT. Innovyze joined Stantec through the MWH acquisition which closed in 2016. Subject to customary conditions and regulatory approvals, it is anticipated that the sale of Innovyze will close in Q2 2017.

“Innovyze is an impressive, growing business and we see this as an opportunity to continue working with them in servicing our clients while allowing both our companies to prosper with the best available resources,” said Bob Gomes, Stantec president and chief executive officer.