The £4.52bn engineering services group formerly known as SNC-Lavalin has rebranded as AtkinsRéalis.
The Canadian multinational and its better-known UK-operating subsidiaries Atkins and Faithful+Gould will all now trade under the name AtkinsRéalis. The name change is accompanied by a major rebranding, reflecting a new focus on professional services and delivery, the company said.
Philip Hoare, AtkinsRéalis’ president of engineering services for Canada, UK, Middle East and India, told Construction News that the decision to keep the Atkins name was a reflection of “our heritage and transition towards professional services and delivery”.
“Réalis” is, meanwhile, “a reference to our Quebecer heritage”, Hoare said, as the firm is headquartered in the Canadian city of Montreal. He added that it also alluded to the group’s ability “to realise” complex projects.
Hoare said the decision to rename the 36,000-employee company was “not at all” related to high-profile allegations of bribery levelled against the business.
The allegations – that SNC-Lavalin bribed the Gaddafi administration in Libya before 2009 – became headline news in Canada in 2019 following allegations that the country’s prime minister Justin Trudeau improperly intervened in the criminal case against SNC-Lavalin.
Hoare nevertheless stressed: “We are a different company. We have been working on a transformation of the business and the move to the new brand reflects the company we are.”
He added that the rebrand emphasised the company’s ability to work throughout the lifecycle of complex projects, from feasibility, concept design, detailed design, construction management, operation and management, and decommissioning.
AtkinsRéalis will remain listed on the Toronto stock exchange, where it has a market capitalisation, or value, of CA$7.64bn (£4.52bn) as of Wednesday evening UK-time. In its past financial year, to June 2023, the company turned over CA$2.13bn (£1.26bn).
AtkinsRéalis chief executive Ian Edwards said: “In recent years, we have deliberately repositioned the company.
“We exited those parts of the business that were not profitable or aligned with our strategy; corrected underlying issues affecting our performance; doubled down on high-growth global markets; embraced digital transformation; and most importantly, redefined our purpose and strengthened our culture.
“We have reached an inflection point so now is the right time to rebrand to AtkinsRéalis and reflect the exciting future ahead of us.”