WSP to acquire Louis Berger in $400m deal

WSP is set to acquire US international professional services firm Louis Berger in a deal valued $400m. The transaction will add 5,000 employees to WSP and increase its reach in the US, Europe, the Middle East and Latin America. Through the agreement, WSP intends to continue Louis Berger’s restructuring of its international operations and expects to incur $50m in one-time integration and restructuring costs in the coming years. Alexandre L’Heureux, president and chief executive officer of WSP, says the
August 2, 2018 Read time: 2 mins

6666 WSP is set to acquire US international professional services firm 4736 Louis Berger in a deal valued $400m. The transaction will add 5,000 employees to WSP and increase its reach in the US, Europe, the Middle East and Latin America.

Through the agreement, WSP intends to continue Louis Berger’s restructuring of its international operations and expects to incur $50m in one-time integration and restructuring costs in the coming years.

Alexandre L’Heureux, president and chief executive officer of WSP, says the transaction will increase the company’s exposure to the US Federal sector through Louis Berger’s experience in governmental contracts.

The acquisition is expected to close in the fourth quarter of 2018 and is subject to customary closing conditions which include regulatory approvals and the completion of administrative actions.

The purchase will be financed by an underwritten term loan from Canadian Imperial Bank of Commerce.

UTC

Related Content

  • June 22, 2012
    3M to acquire FSTech from Federal Signal Corporation
    3M has entered into an agreement to acquire the business of Federal Signal Technologies Group (FSTech) from Federal Signal Corporation for a purchase price of US$110 million in cash, subject to post-closing adjustments. 3M says the fast-growing $3 billion electronic tolling industry is projected to grow at a rate greater than 12 per cent per year as government agencies increasingly rely on tolling to fund roadway infrastructure, construction and maintenance. The company says FSTech’s solutions for electroni
    Read More
  • April 27, 2012
    Q-Free preparing for new projects
    Q-Free has announced revenues of US$21.11 million during the first quarter 2012 compared to US$29.66 million in the corresponding quarter in 2011, while order intake came in at $44.29 million, $6.45 million more than in previous quarter and $2.96 million more than in Q1-2011, reflecting, the company says, that its general optimism regarding demand is well grounded.
    Read More
  • March 12, 2012
    Telvent relocates and takes a global stance on ITS
    Telvent's Manuel Sanchez Ortega, on relocating the company's headquarters to the US and how that fits in the international scheme of things. The change-of-address cards are in the post; Manuel Sanchez Ortega has just moved homes. The domestic upheaval of Telvent's Chairman and Chief Executive comes as a result of the decision to relocate many of the company's headquarter functions from Madrid to Rockville, Maryland in the US. Viewed in the context of its significant recent acquisitions in North America - am
    Read More
  • January 18, 2019
    Redflex ‘does not expect further action’ from US Department of Justice
    Traffic enforcement specialist Redflex Holdings says it expects no further legal action or new financial liabilities arising from investigations by the US Department of Justice (DoJ). The action, which has rumbled on for several years, related to misconduct by former employees of US subsidiary Redflex Traffic Systems. The company signed a two-year non-prosecution agreement (NPA) with the DoJ, which has now ended. Under the expired deal, the DoJ agreed not to charge the firm with any offence provided the
    Read More

Highlighted Content