North American design firm Stantec Inc. (STN, STN.TO) Thursday signed a letter of intent to acquire Calgary-based Cimarron Engineering Ltd. The financial terms of the proposed deal were not disclosed.
Cimarron Engineering is a 290-person engineering consulting company specializing in the development, design, installation, and integrity maintenance of oil and gas pipeline systems and station facilities.
Cimarron's current projects include TransCanada's Keystone Pipeline between Canada and the United States, and Enbridge's Woodland Pipeline in northern Alberta.
Cimarron operates offices in Calgary and Edmonton, which will join Stantec's existing Stantec's oil and gas and power groups in those cities.
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