WSP Global Inc. (TSX: WSP) (“WSP” or the “Corporation”) is pleased to announce that it has entered into a definitive agreement (the “Agreement”) in connection with the acquisition (the “Acquisition”) of all of the issued and outstanding shares of Mouchel Consulting, the engineering consulting services business of Mouchel Limited, which is held by Kier Group plc. The purchase price of approximately GBP £75 million ($CAD 120.4 million)(the “Purchase Price”) was financed using funds drawn under the Corporation’s current credit facilities.
Mouchel Consulting has approximately 2,000 employees, mostly located in offices across the UK and Ireland, as well as a presence in the Middle East. The firm is recognized for its broad expertise in the public transportation and infrastructure sectors, particularly in highways and Intelligent Transportation Systems (ITS). These are systems in which information and communication technologies are applied in the field of road transport, including infrastructure, vehicles and users, in traffic management and mobility management, as well as for interfaces with other modes of transport. The firm also has an expertise in the land referencing and regulated water market segments.
“Commenting on the Acquisition, Mark Naysmith, Managing Director for WSP in the UK said: “We are pleased to join forces with Mouchel Consulting, which is recognized as a highly successful firm in the UK, with a particularly strong public sector presence in transportation. Our combined expertise across the public and private sectors will enhance our design capabilities, providing greater depth and diversity in related skill sets. This will position us as trusted advisors, enabling us to deliver our clients’ projects across the whole life cycle of their projects. Together, we will now be a top-tier player for local and national government transportation projects, as well as in local authority markets.”
Alexandre L’Heureux, President and Chief Executive Officer of WSP said: “This Acquisition fits with our 2015-2018 growth strategy, where we aim to become a top-tier player in each of the regions and sectors where we operate, while strengthening our presence in industrialized countries and our activities in non-cyclical sectors. It is also in line with our UK growth strategy to increase our presence in the UK public sector, in order to benefit from the continued government investment in infrastructure. In addition, the Acquisition will enable us to expand our regional public client base as well as optimally balance our revenue breakdown between public and private sector clients”.
Also commenting on the Acquisition,Miles Barnard, Managing Director of Mouchel Consulting said: “We are pleased about the prospect of joining WSP, as our cultures are aligned and our operations are complementary, which should create new opportunities for our employees and clients. We also anticipate playing an active role in the development and growth of WSP’s multi-disciplinary activities in the public sector in the UK and Middle East, and look forward to offering a wide range of additional services to our respective clients.”
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