WSP Global Inc. has entered into an agreement to acquire Berger Group Holdings, Inc. (“Louis Berger”), the parent company of the group of companies doing business under the umbrella name of Louis Berger, a U.S.-headquartered international professional services firm mainly active in the transportation and infrastructure, environmental and water sectors, as well as in master planning.
The purchase price is listed at US$400 million.
Louis Berger has approximately 5,000 employees located in offices across the U.S., with an additional presence across Continental Europe, the Middle East, Africa, Asia (mainly India) and Latin America.
The company’s U.S. operations representing approximately 70% of its 2018 net revenues (excluding disaster response revenues), Louis Berger’s portfolio includes iconic landmarks in the U.S. including the Lincoln Memorial Reflecting Pool, the Statue of Liberty, the George Washington Bridge and the World Trade Center and most recently has been providing emergency management services for temporary power in Puerto Rico since Hurricane Maria.
The company was also selected as part of a joint venture to provide project management services to build Doha’s first metro and supervise construction of three World Cup stadiums ahead of the FIFA 2022 World Cup.
“We are pleased by the opportunity to have Louis Berger join WSP. The company is recognized for its expertise in sectors and services that WSP had targeted for growth, including water, environment (including emergency management) and transportation (including ports and marine), as well as master planning,” said Alexandre L’Heureux, president and CEO of WSP in a company release. “This acquisition will also enable us to increase our presence in geographies we have previously targeted for growth, such as Continental Europe. Lastly, it will increase our exposure to the U.S. Federal sector since Louis Berger has developed expertise and built experience in governmental contracts (including federal military and economic and institutional development).”
Jim Stamatis, CEO of Louis Berger, said: “I am very pleased about the prospect of joining WSP, as our values and strategies are aligned and our operations are complementary … WSP and Louis Berger are known to each other as we have pursued and won many projects together and as a result, we feel very comfortable in the strategic and cultural fit as we join together. As we have just completed our monitorship with the US Government, our most successful year in the company’s history, and continued simplification and restructuring of our operations, this presented an optimal time for us to transition to a new chapter in our evolution.”
The Acquisition is expected to be completed in the fourth quarter of 2018.