EQT Mid Market US closes US $270M acquisition of Innovyze from Stantec

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By Ted Liu

EQT Mid Market US GP B.V. has closed previously announced acquisition of Innovyze, Inc. from Stantec Inc. (TSX/NYSE: STN) for US $270 million.

Founded in May 1996, Broomfield, Colorado based Innovyze is a leading global provider of wet infrastructure business analytics software solutions designed to meet the technological needs of water/wastewater utilities, government agencies, and engineering organizations worldwide.

Innovyze’s management team, led by Paul Boulos, will continue to lead the company.

Innovyze, a subsidiary of MWH Global, Inc., joined Stantec as part of the US $795 million acquisition of MWH in May 2016.

Robert W. Baird served as exclusive financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor to Stantec on the transaction.

photo credit: Innovyze