Cardno to sell Americas and Asia-Pacific divisions

Cardno to sell Americas and Asia-Pacific divisions

27 October 2021 By Lauren Croft
Cardno to sell Americas and Asia-Pacific divisions

ASX-listed ESG consulting business Cardno has been advised on the proposed sale of several of its divisions.

Firm: Gilbert + Tobin (Cardno).

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Deal: G+T has advised Cardno on the proposed $667 million sale of its Americas ESG and Asia-Pacific consulting divisions to Stantec.

Value: $667 million.

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Area: Corporate, M&A.

Key players: G+T’s corporate advisory partner Tim Gordon led the matter, together with lawyers Katrina Byrne, Emily Fanning, and a broad cross-firm team.

Deal significance: Cardno is a global infrastructure, environmental and social development company operating in more than 100 countries. Stantec is also a leader in sustainable infrastructure design.

Mr Gordon said: “It has been amazing to see first-hand the intense current interest in leading ESG consultancy businesses driven by the massive spending underway in ESG-focused infrastructure and climate change mitigation.

“We have really enjoyed assisting Cardno with its strategic review process, and the announced transactions represent an outstanding outcome for all parties.”

The transactions are scheduled to complete in December 2021, subject to customary conditions.

Cardno to sell Americas and Asia-Pacific divisions
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