WSP closes US$400M Louis Berger acquisitionCompanies & People
Combined with the other acquisitions completed since the launch of WSP's 2015-2018 Strategic Plan, the organization has added approximately 15,000 employees and $1.8 billion of net revenues.
WSP Global Inc. has completed its previously announced acquisition of Berger Group Holdings, Inc. (“Louis Berger”), the US-based professional services firm mainly active in transportation and infrastructure along with environmental and water sectors, as well as master planning.
The purchase price was US$400 million, which was paid in cash.
WSP financed the deal through 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,” said Alexandre L’Heureux, WSP’s president and CEO, in a company release.
“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. 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 CEO. “Our complementary technical expertise and expanded geographic reach bring incredible resources to our clients and exciting new opportunities for our employees.”