WSP Global Acquires Power Engineers for $2.4 Billion
August 12, 2024 | WEB Montreal
Acquisition Expands WSP's Energy Expertise
WSP Global Inc. (TSX: WSP) today announced the acquisition of Power Engineers Inc. for approximately $2.4 billion (US$1.78 billion) in cash. The acquisition significantly strengthens WSP's position as a leading global professional services firm with deep expertise in the energy sector.
Power Engineers is a leading energy consulting and engineering firm with over 60 years of experience. The company provides a wide range of services, including engineering, design, consulting, and project management for power generation, transmission, and distribution projects.
WSP's CEO, Alexandre L'Heureux, said, "The acquisition of Power Engineers is a major step forward in our strategy to become a global leader in the energy sector. Power Engineers' strong reputation and expertise in key areas such as renewable energy and transmission will be invaluable to our clients."
The acquisition is expected to close in the fourth quarter of 2024, subject to regulatory approvals. Upon closing, Power Engineers will become a wholly-owned subsidiary of WSP.
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