Dutch engineering consultancy firm Arcadis announced July 28 that it will buy Spanish power design and engineering specialist Satel as it looks to strengthen its grid modernization, renewable energy and data center hyperscaling capabilities across Europe.
Terms of Arcadis’ acquisition agreement with Satel, which is expected to add 250 employees to its headcount, were not disclosed. The acquisition announcement comes after the Amsterdam-based firm confirmed in a press release that it received another unsolicited, conditional non-binding proposal from Canada-based engineering giant WSP on July 23 to be acquired for $5.4 billion.
Arcadis’ board rejected WSP’s first offer, shared July 14 for €48.5 per share, over strategic and cultural fit concerns and said it “fundamentally undervalued the company.”
In a press release, Arcadis’ first American and female CEO, Heather Polinsky, said the Satel acquisition “broadens our ability to support clients as investment accelerates in grids, renewables, data centers, and resilient infrastructure. Together, we’re helping deliver the critical infrastructure that will underpin Europe’s energy transition and enable its digital future.”
With Spain expected to inject around $22 billion into modernizing its power grid through 2030, Satel’s expertise in delivering high-voltage power infrastructure is already well-positioned for this buildout, with Arcadis noting in its press release that the company has participated in projects involving more than 20,000 km of high-voltage transmission lines and over 1,000 substations.
Satel CEO Pablo Bernat added that joining Arcadis is a “natural next step” for the company’s business and “creates new opportunities for Satel’s people and clients, broadening our range of expertise and global delivery capability.”
An Arcadis spokesperson told ENR that Polinsky is expected to address the strategy behind Satel’s acquisition during a second quarter earnings call July 30. According to the company, its 2026 results so far demonstrate “positive operational momentum” as it pursues a strategy to “accelerate growth, improve margins and enhance cash generation” and shore up shareholder value.
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Such a strategy appears to have played a role in WSP’s bid to bring the company to the negotiating table with an upped offer.
“To date, the Boards of Arcadis have not accepted WSP’s multiple invitations to discuss the proposals and negotiate a friendly, recommended transaction,” WSP said in a press release, confirming submission of its proposal. “WSP reiterates its invitation to the Boards of Arcadis to discuss its latest proposal and address any remaining concerns through constructive engagement.”
In recent years, WSP has made headlines for snapping up U.S.-based sector leader TRC Cos. Inc. amid rumors last year that it was also looking to add Jacobs to its portfolio of companies.
Arcadis frequently ranks on ENR’s Top 225 International Design Firms. The 2026 list will be published in August.
WSP ranked No. 1 on last year’s Top 225 International Design Firm list, reporting $8.9 billion in revenue.
Source: www.enr.com
