Canadian engineering giant WSP Global Inc. is buying John Wood Group PLC’s environment consulting business in a deal that cements its position as one of the world’s dominant players in the fast-growing sustainable development industry.
“This transaction is about expanding our leadership in the earth environment [sector] and scaling our business,” WSP Chief Executive Alexandre L’Heureux told analysts on a morning conference call. “It is about creating more revenue opportunities together, by cross-selling to our Fortune 500 clients and by capitalizing on our fast-growing markets.”
By acquiring the Wood business, known as E&I, WSP takes a major step toward that goal, doubling the size of its environmental practice in the United States and bolstering its presence in other key countries like Canada and the U.K. When the deal closes as expected in the fourth quarter this year, it will be immediately accretive to earnings and boost environment-related work to one third of WSP’s net revenue from about one quarter, the engineering company said.
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