WSP has completed its acquisition of John Wood Group’s environment and infrastructure (E&I) business, which provides engineering, remediation consulting, environmental permitting, inspection, monitoring and environmental management services.
Canadian professional services firm WSP recently announced its intention to buy the E&I business. The built environment consultancy currently services government, industrial, infrastructure, oil and gas, power and water clients mainly in the US, Canada and the UK. It also has a secondary presence in Latin America and Europe.
WSP president and CEO Alexandre L’Heureux said: “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.
“This transaction will also enable us to further seize opportunities in the fast-growing environmental and water sectors.”
E&I Consulting executive president Sczurko added: “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.”
Scotland-headquartered consulting and engineering company John Wood Group completed the sale for an enterprise value of US$1.8bn (£1.6bn).
John Wood Group CEO Ken Gilmartin said: “We are very pleased to have completed the sale of our built environment consulting business to WSP. This transaction marks a new chapter for Wood – the proceeds have transformed our balance sheet and restored financial flexibility to the group.
“Wood has an exciting future ahead as we capture growth opportunities across the energy and materials markets. We are developing our updated strategy and will outline more details, including our approach to capital allocation, at our capital markets day in November.”
WSP recently also reached an agreement with the board of RPS Group to buy the sustainability-focused global consulting firm for £591M.