WSP Global Inc. (TSX: WSP) recently completed its previously announced acquisition of the Environment & Infrastructure business ("E&I") of John Wood Group plc ("Wood"), through a sale and purchase agreement. E&I provides engineering, remediation consulting, environmental permitting, inspection, monitoring, and environmental management services to government, industrial, infrastructure, oil and gas, power, water, and mining clients. E&I’s 6,000 professionals are based in some 100 offices in over 10 countries, mainly in the US, Canada, and the UK, with a secondary presence in Latin America and Europe.
“We are pleased to welcome E&I’s 6,000 professionals into the WSP family and are excited to create a strong market leader from two respected organizations with bold ambitions. Joining forces will allow us to offer our clients expanded world-class multidisciplinary services while bringing new solutions and enhanced value. This transaction will also enable us to further seize opportunities in the fast-growing environmental and water sectors,” says Alexandre L’Heureux, WSP’s President and Chief Executive Officer.
“Aligned with our Global Strategic Action Plan, this acquisition, along with our other recently announced transactions, will contribute to the achievement of our strategic ambitions while expanding our geographical range and adding expertise in key sectors. This will create even greater momentum as we future-proof our cities and our environment,” he adds.
“We are excited to join a world-leading consulting firm, where our combined expertise will add value for our clients through strengthened service capability, global reach and deep portfolio of technical experts. Together with WSP, we will be a unique advisor and provider for clients across all sectors and services, and the aspirations of our people for a more sustainable future have room to grow. We are now an industry leader at a time when environmental and infrastructure needs are a global priority,” says Joe Sczurko, Executive President of E&I Consulting.
The aggregate cash consideration payable in connection with the Acquisition is approximately US$1.801 billion (approximately C$2.40 billion), subject to adjustments. The Acquisition and other related transaction costs were financed using a US$1.801 billion term credit facility with various tenors of up to five years in length.
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