AtkinsRéalis Agrees to Repurchase 7 Million Shares from La Caisse
Deal News | Jun 25, 2025 | CDPQ
AtkinsRéalis Group Inc., a global engineering services and nuclear company, has announced a private agreement to repurchase 7 million common shares from its key shareholder Caisse de dépôt et placement du Québec (La Caisse) at $90.87 per share, representing a total consideration of approximately $636 million. The repurchase, which represents a 3% discount on the current share price, is part of La Caisse’s portfolio rebalancing strategy. Following the transaction, La Caisse will still retain a significant shareholding with approximately 16.5% of AtkinsRéalis’s total outstanding shares. The repurchase highlights AtkinsRéalis’s commitment to its capital allocation framework, which was articulated at their 2024 Investor Day, and reflects the firm's readiness to capitalize on strategic opportunities enabled by a robust balance sheet. The transaction also received an exemption from issuer bid requirements, simplifying its execution. Despite reducing its investment, La Caisse remains a key shareholder, demonstrating its confidence in AtkinsRéalis’s future prospects.
Sectors
- Engineering Services
- Nuclear
- Private Equity
Geography
- Canada – AtkinsRéalis is based in Canada, and the transaction involves Canadian entities and is subject to Canadian regulatory approval. La Caisse is also a significant Canadian institutional investor.
Industry
- Engineering Services – AtkinsRéalis is described as a world-class engineering services company, indicating its core industry.
- Nuclear – AtkinsRéalis also operates within the nuclear sector, as noted in its company description.
- Private Equity – La Caisse, associated with CDPQ (a large institutional investor), participates in this repurchase dealing, aligning with Private Equity-like investment strategy.
Financials
- $636 million – Total consideration for the repurchase of 7,000,000 shares from La Caisse.
- $90.87 – Price per share at which AtkinsRéalis is repurchasing its shares, reflecting a 3% discount to the TSX closing price.
- 16.5% – Post-transaction shareholding percentage of La Caisse in AtkinsRéalis.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| AtkinsRéalis Group Inc. | Target Company | Company | A global engineering and nuclear firm engaged in the strategic share repurchase to enhance shareholder value. |
| Caisse de dépôt et placement du Québec (La Caisse) | Selling Company | PE Firm | A major Canadian institutional investor participating in portfolio rebalancing by reducing its stake in AtkinsRéalis. |
| Autorité des marchés financiers | Regulatory Body | Government | The regulatory authority that provided an exemption for the transaction. |
| Ian L. Edwards | CEO | Person | The President and CEO of AtkinsRéalis, who commented on the strategic repurchase. |
| Kim Thomassin | Executive Vice-President and Head of Québec | Person | Executive at La Caisse who commented on the transaction. |