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WSP Global on the hunt for big companies as acquisitions climb the to-do list

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WSP Global Inc. is eyeing larger acquisitions once again after working to integrate its sprawling operations as it snapped up smaller companies over the past 18 months, says CEO Alexandre L’Heureux.

July 31, 2024 at 3:36PM EDTMONTREAL — WSP Global Inc. is eyeing larger acquisitions once again after working to integrate its sprawling operations“The last year was a year of consolidation,” he told analysts on a conference call Wednesday.

But the latest acquisitions were small compared with some earlier purchases — the U.K.-based John Wood Group’s environment and infrastructure business for US$1.81 billion in 2022, for example — leaving the Montreal-based company ready for bigger fare amid a 22 per cent year-over-year boost in profit last quarter to $184.1 million.

“Remember that WSP performed well under the Trump administration and we have performed very well also under the Biden administration,” the chief executive said. WSP revenues rose 8.5 per cent year-over year to $3.93 billion last quarter, driven by organic growth in the U.S., Canada, the United Kingdom and New Zealand.“Asia is going through a rough patch,” L’Heureux said. But the area accounts for a thin slice of its income, he added.

In the U.S., WSP nabbed a contract to lead the design of an industrial wastewater treatment plant at the Seattle-Tacoma International Airport.

 

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