WSP Global Inc. on Dec. 18, announced that following the receipt of all required regulatory approvals and the satisfaction of all conditions to the acquisition agreement, it has completed its previously announced acquisition of Berger Group Holdings Inc., the parent company of the group of companies doing business under the umbrella name of Louis Berger, a US-headquartered leading international professional services firm mainly active in the Transportation & Infrastructure and Environmental & Water sectors, as well as in Master Planning.
The purchase price payable in connection with the acquisition was US$400 million, which was paid in cash. It was financed by new term loans from a syndication of banks.
“I am pleased with this transaction which brings together two complementary organizations with aligned strategic ambitions and a resolute emphasis on clients and employees. As we focus on integration in the next few months, we will bring to the combined entity our experience of building a global consultancy with the added benefit of providing professional and personal development opportunities to our employees, while delivering long-term value to our shareholders,” commented Alexandre L’Heureux, WSP’s President and Chief Executive Officer. “Lastly, this Acquisition enables us to reach all of the objectives set out in our 2015-2018 Strategic Plan. Combined with the other acquisitions completed since the launch of the 2015-2018 Strategic Plan, we have added approximately 15,000 employees and $1.8 billion of net revenues - an accomplishment of which we are proud,” he added.
“We are proud and excited to join the WSP family,” said Jim Stamatis, Louis Berger's chief executive officer. “Our complementary technical expertise and expanded geographic reach bring incredible resources to our clients and exciting new opportunities for our employees. The completion of this transaction opens the door to a bright and transformative future.”
