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

  • March 6, 2018
    ITSA’s Shailen Bhatt looks to the future
    The new boss of ITS America is fizzing with ideas. Shailen Bhatt talks to Adam Hill about the need to rebrand the ITS industry, how technology can leverage tax dollars – and where the Star Wars universe fits in to his philosophy. Shailen Bhatt has a big job on his hands. The CEO and president of the Intelligent Transportation Society of America is the second to hold the post in two years following the resignation last July of his predecessor Regina Hopper. It has not been the easiest time for the
    Read More
  • June 17, 2014
    ‘Getting schooled in infrastructure’ tour kicks off
    The ‘Getting schooled in infrastructure’ campaign bus tour by the US Laborers' International Union of North America (LIUNA) began this week at the now-closed I-495 bridge in Wilmington. The tour, intended to highlight LIUNA’s concerns about the country’s failing roads and bridges, will travel through more than 22 cities and Congressional districts in a bid to press Congress to pass a long-term, full-investment Highway Bill this year. The campaign also includes radio ads, billboards, online activity and g
    Read More
  • July 7, 2017
    Missouri’s smart solution for rural road monitoring
    David Crawford sees how Missouri is using commercially available information to rapidly improve monitoring and driver information on rural highways. Missouri is a predominantly rural state with the second largest number of farms in the country and agriculture the main occupation in 97 of its 114 counties. US statistics starkly reveal how road accidents in rural areas tend to be more serious than in urban regions and of the 32,000 US motorists killed each year, 54% die on roads in rural areas even though onl
    Read More
  • July 16, 2014
    Management changes at Iteris
    Iteris has announced that it will require additional time to complete its audit for the fiscal year ended 31 March 2014, primarily due to the time necessary to complete the review of certain complex, multi-element contracts, but the company is continuing to work with its auditors to complete the fiscal 2014 audit but. The company may have a material weakness in its internal controls over financial reporting related to certain of these multi-element contracts, but the company has not yet completed its fin
    Read More

Highlighted Content