AtkinsRéalis Acquires Remaining Interest in David Evans Enterprises, Inc., Strengthening its U.S. Growth Platform

MONTREAL, Nov. 3, 2026 /CNW/ -- AtkinsRéalis Group Inc. (TSX: ATRL), a world-class engineering services and nuclear company with offices around the world, announced today that it has acquired the remaining equity interest in David Evans Enterprises, Inc. ("David Evans") for a cash consideration of approximately US$130 million.

AtkinsRéalis acquired a 70% majority interest in David Evans in April 2025, with an option to increase its ownership at a later date. Since then, the organizations have leveraged complementary geographic reach with engineering and project management capabilities to better support large, complex infrastructure programs. Acquiring the remaining interest will accelerate integration and collaboration opportunities identified since the initial transaction. Upon completion of the transaction, David Evans became a wholly owned subsidiary of AtkinsRéalis, while continuing to operate under its current brand and management structure.

"Since AtkinsRéalis first invested in David Evans, our teams have developed a deeper understanding of our complementary capabilities and identified new opportunities to work together," said Ian L. Edwards, President and Chief Executive Officer of AtkinsRéalis. "Acquiring the remaining ownership interest is a natural next step that reflects our confidence in David Evans people, capabilities, and client relationships. It also advances our U.S. growth platform and strengthens our ability to connect expertise and resources in support of clients across the country."

"David Evans has built its reputation through the expertise of our people, exceptional client support, and deep knowledge of the communities and markets we serve," said Al Barkouli, Chief Executive Officer of David Evans "As we enter this next chapter, we have an opportunity to carry those strengths forward while bringing together the capabilities and resources of our organizations to create even greater value for our clients and new opportunities for our employees."

"The acquisition will enable us to bring the full breadth of our capabilities to clients across transportation, water, power and other critical infrastructure markets," said Byron Bright, President, U.S., AtkinsRéalis. "By mobilizing expertise more seamlessly and responding to client needs more quickly, we will be better positioned to deliver increasingly large and complex programs across the United States and create greater possibilities for our people, our clients and the communities we serve."

About AtkinsRéalis

Created by the integration of long-standing organizations dating back to 1911, AtkinsRéalis is a world-class engineering services and nuclear company dedicated to engineering a better future for our planet and its people. We create sustainable solutions that connect people, data and technology to transform the world's infrastructure and energy systems. We deploy global capabilities locally to our clients and deliver unique end-to-end services across the whole life cycle of an asset including consulting, advisory & environmental services, intelligent networks & cybersecurity, design & engineering, procurement, project & construction management, operations & maintenance, decommissioning and capital advisory services. The breadth and depth of our capabilities are delivered to clients in strategic sectors such as Engineering Services and Nuclear, as steward of CANDU® nuclear technology. News and information are available at www.atkinsrealis.com or follow us on LinkedIn. 

About David Evans

David Evans is a professional services consulting firm with offices in the Western United States, Mississippi, New York, and Texas. David Evans specializes in design for transportation, land development, energy, and water and environmental infrastructure projects across the nation. The firm's staff include engineers, surveyors, hydrographers, planners, landscape architects, and natural resources scientists. David Evans is consistently ranked among ENR's Top 100 Pure Design Firms in the U.S. In addition, David Evans' staffing subsidiaries focus on staff augmentation, contract-to-hire, and direct placement services. www.deainc.com

Forward-Looking Statements

References in this press release to the "Company", "AtkinsRéalis", "we", "us" and "our" mean, as the context may require, AtkinsRéalis Group Inc. or all or some of its subsidiaries or joint arrangements or associates. Statements made in this press release that describe the Company's expectations or strategies, including with respect to the acquisition of the remaining equity interest of David Evans (the "Transaction"), constitute "forward-looking statements" and can be identified by the use of the conditional or forward-looking terminology such as "estimates", "expects", "forecasts", "intends", "may", "objective", "plans", "projects", "should", "will", "likely", or other variations thereon. Forward-looking statements also include any other statements that do not refer to historical facts. The Company cautions that, by their nature, forward-looking statements involve risks and uncertainties, and that its actual actions or results could differ materially from those expressed or implied in such forward-looking statements. Forward-looking statements are presented for the purpose of assisting investors and others in understanding certain key elements of the Company's current objectives, strategic priorities, expectations and plans, and in obtaining a better understanding of the Company's business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements made in this press release are based on a number of assumptions believed by the Company to be reasonable as at the date hereof and are subject to important risks and uncertainties, including management's estimates and expectations in relation to future economic and business conditions and other factors in relation to the Transaction and resulting impact on growth and accretion in various financial metrics; and the absence of significant undisclosed costs or liabilities associated with the Transaction.

The forward-looking statements herein reflect the Company's expectations as at the date of this press release and are subject to change after this date. The Company does not undertake to update publicly or to revise any such forward-looking statements whether as a result of new information, future events or otherwise, unless required by applicable legislation or regulation. The forward-looking information and statements contained herein are expressly qualified in their entirety by this cautionary statement.

SOURCE AtkinsRéalis

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