Montreal-based WSP Global Inc. has entered into an agreement with UEM Edgenta Berhad to acquire UEM Edgenta’s 61.2% in Opus International Consultants Ltd.
OIC is a multi-disciplinary infrastructure (transportation and water), buildings and asset development/management consultancy with approximately 3,000 engineers, designers, planners, researchers and advisers across New Zealand, Australia, Canada and the United Kingdom.
In New Zealand, OIC operates from a network of 36 offices and employs over 1,800 staff and reported annual revenues of $435 million in 2016, with net revenue of around $26.2 million.
The move provides WSP with an opportunity to improve its presence and expertise in the Australia/New Zealand market, particularly in New Zealand, where OIC has a leadership presence.
Commenting on the offer, Alexandre L’Heureux, president and CEO of WSP, said: “We believe our offer is attractive to OIC shareholders, customers and employees. The transaction, which is in line with our 2015-2018 Strategic Plan, will enable us to fulfil our strategic ambitions of enhancing our activities in the Australia/New Zealand region, while strengthening our expertise in the water-related infrastructure sector and asset development/management. The combination of skills and compatible cultures will provide a great foundation for the two organizations to work together effectively on selected projects, creating attractive and value-enhancing solutions for our clients.”