Logos courtesy WSP and Wood.
WSP has completed its previously announced acquisition of Wood’s environment and infrastructure (E&I) business, through a sale and purchase agreement.
Also known as Built Environment Consulting, this business unit comprises 6,000 professionals at 100 offices across Canada, the U.S., the U.K., Latin America and Europe. It provides engineering, remediation, permitting, inspection, monitoring and environmental management services to government, industrial, infrastructure, oil, gas, power, water and mining clients.
“We are now an industry leader at a time when environmental and infrastructure needs are a global priority,” adds Joe Sczurko, the unit’s executive president.
The aggregate cash consideration payable in connection with the acquisition is approximately $2.4 billion (US$1.8 billion), subject to adjustments.
“We are very pleased to have completed the sale of our Built Environment Consulting business to WSP,” says Ken Gilmartin, CEO of Wood. “The proceeds have transformed our balance sheet and restored financial flexibility. Wood has an exciting future ahead as we capture growth opportunities across the energy and materials markets.”
“We are pleased to welcome E&I into the family,” says Alexandre L’Heureux, WSP’s president and CEO. “Joining forces will allow us to offer expanded, world-class, multidisciplinary services and further seize opportunities in the fast-growing environmental and water sectors.”