On July 18, 2022, Arcadis acquired all issued and outstanding shares of IBI Group Inc. (TSX: IBG) for C$19.50 per share, valuing the transaction at approximately C$873 million (€664 million). This acquisition aligns with Arcadis' 2021-2023 "Maximizing Impact" strategy and aims to bolster its digital leadership, particularly in North America. IBI Group's technology-driven design expertise will complement Arcadis' existing services, forming a new Global Business Area (GBA) named "Intelligence."

The transaction, expected to close in the second half of 2022, includes synergies anticipated to generate C$15 million annually within three years. Arcadis shareholders can expect immediate accretion in adjusted earnings per share and operating profit margins. The deal was financed through debt, with Goldman Sachs and Bank of America providing committed financing.

Goldman Sachs acted as the exclusive financial advisor to Arcadis, with Stikeman Elliott LLP as legal counsel. National Bank Financial served as the exclusive financial advisor to IBI Group's Special Committee, with Blake, Cassels & Graydon LLP providing legal counsel, and Bennett Jones LLP advising IBI Group.