WSP to Acquire Power Engineers, Setting a Milestone for Accelerated Growth
500 MILLION BOUGHT DEAL PUBLIC OFFERING AND
MONTREAL, CANADA, February 16, 2023 /CNW Telbec/ - WSP Global Inc. (TSX: WSP) ("WSP" or the "Corporation") announced today the acquisition of Power Engineers, Inc. ("POWER"), a leading engineering, environmental, and construction management firm headquartered in Hailey, Idaho, with approximately 2,200 employees across the United States and Canada.
The acquisition, with a purchase price of US$1,780 million (approximately CA$2,443.9 million), reflects POWER's estimated 2024 pre-IFRS 16 adjusted EBITDA of approximately US$205 million and is expected to be immediately accretive to WSP's earnings per share and free cash flow per share.
WEB
These acquisitions allow us to strengthen our competencies in each of our market sectors and serve as a base for us to increase our market share in the years to come.
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