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WSP to Acquire Power Engineers: A Milestone for Accelerated Growth

Setting the Stage for Expansion

WSP Global Inc. (WSP), a leading global engineering and professional services firm, has announced a definitive agreement to acquire Power Engineers, a US-based provider of engineering, procurement, and construction (EPC) services in the power industry. The acquisition, valued at approximately US$1,780 million, is a strategic move that will significantly enhance WSP's expertise and market presence in the rapidly growing power sector.

Accelerating Growth

The acquisition of Power Engineers marks a major milestone in WSP's growth strategy. The addition of Power Engineers' leading-edge capabilities and expertise in the power generation, transmission, and distribution sectors will significantly enhance WSP's offerings to clients worldwide. The combined entity will be well-positioned to capitalize on the growing demand for sustainable energy solutions and infrastructure development.

WSP estimates that the acquisition will contribute approximately US$250 million in revenue in 2024, representing organic growth of 6-8%. The transaction is expected to close in the third quarter of 2023, subject to customary closing conditions and regulatory approvals.

Commenting on the acquisition, WSP President and CEO Alexandre L'Heureux said, “Power Engineers is a highly respected player in the power sector, with a reputation for technical excellence and innovation. This acquisition aligns perfectly with our strategic focus on growth in key geographies and sectors. We are excited to welcome the Power Engineers team to the WSP family and look forward to leveraging our combined expertise to drive growth and deliver value to our clients.”

The acquisition of Power Engineers is a bold step forward for WSP, showcasing the company's commitment to growth and its leadership in the global engineering and professional services market.