News / Engineering
Engineering firm to enter new chapter with Canadian acquisition
An engineering company founded in Bristol almost three decades ago has completed a successful merger with a global firm.
Hydrock which has its HQ in Almondsbury, has been acquired by Stantac, which is based in Toronto.
The latter is listed on the New York Stock Exchange and boasts of 30 per cent growth of its UK workforce as a result of the acquisition.
Hydrock was founded in 1995 by CEO Dr Brian McConnell, a postgraduate from the University of Bristol, and the merger coincides with his retirement after 29 years at the helm.
Currently, the firm has 950 staff across 22 UK sites and specialises in a variety of building and construction services, including fire safety, energy and sustainability, civil and structural engineering, transport and geotechnical services.
In 2018, Hydrock entered a partnership with BGF, formerly known as Business Growth Fund, an investment firm owned by a group of banks to provide venture capital for small and medium-sized businesses. Since its original investment in March 2018, BGF has provided £5.6m to support Hydrock’s organic growth plans as well helping to fund the acquisition of seven complementary consultancy businesses.
Hydrock Holdings generated turnover of £74m in the tax year ending in March 2023, up 40 per cent from £59m the previous year, and made a pre-tax profit of £2.7m. Turnover was further bolstered by the acquisitions of 3e Consulting Engineers, Complete Design Partnership and SPL Track during 2022.
Hydrock was founded in 1995 and employs 950 staff across 22 UK sites – photo: Rebecca Faith
On the new chapter of the firm, McConnell said: “BGF has been an excellent partner and its investment in the business has played a critical role in our growth story. Over the course of the investment partnership, Hydrock has expanded its services and reach which has been supported through a programme of strategic acquisitions. I’m proud of the progress we have made in the last six years – all while keeping our distinctive culture very much alive.”
Hydrock managing director, Scott Elliott, who will oversee the transition period, added: “Hydrock’s people are united by a shared purpose to be a force for good. I’m delighted that this aligns so well with Stantec’s culture.
“Through our integration, we’ll be able to expand our reach and influence internationally, penetrate exciting new markets, and provide excellent new career opportunities for our people. Together, we’ll pioneer engineering solutions, drive energy resilience, and support this country’s vital transition to a low-carbon economy.”
UWE’s flagship Faculty of Engineering and Design building is among the high-end projects Hydrock had delivered – photo: John Seaman
Hydrock is regularly listed in the 100 Best Large Companies to Work For survey and was recently crowned Engineering Consultant of the Year at the Building Awards. It has built up a reputation for developing sustainable solutions for major infrastructure projects and landmark buildings across the UK.
Main photo: Hydrock
Read next:
Our top newsletters emailed directly to you
