WSP Global Inc (TSX: WSP) has acquired Levelton Consultants Ltd, a provider of specialized engineering solutions based in Richmond, British Columbia. The financial terms of the deal were not disclosed. WSP said the acquisition will strengthen its position in the professional environmental services space in Canada. Headquartered in Montréal, WSP is backed by the Canada Pension Plan Investment Board (CPPIB) and the Caisse de dépôt et placement du Québec. CPPIB and the Caisse have supported a number of the company’s recent add-on deals, including the 2014 purchase of Parsons Brinckerhoff.
WSP Continues to Expand its Environmental Practice in Canada With the Acquisition of Levelton
MONTREAL, QUEBEC, Jun 30, 2015 (Marketwired via COMTEX) — WSP Global Inc. (WSP) (“WSP”) announced today that it has acquired, with a July 1, 2015 effective date, Caravel Investments Ltd. and Levelton Consultants Ltd., its wholly-owned subsidiary (collectively, “Levelton”), a leading consulting engineering firm based in British Columbia and Alberta. Levelton provides a diverse range of specialized engineering solutions in the areas of environment, geotechnical, building science and materials engineering and testing. This acquisition adds 215 employees to WSP’s workforce and strengthens its leading position in professional environmental services in Canada, growing the environmental group to 1,100 employees across Canada.
“We are very pleased to welcome Levelton as a business partner whose brand has been recognized for environmental, materials, building science and geotechnical consulting excellence. This transaction, which fits perfectly with our Canadian growth strategy, will provide the leadership we need for continued growth and will enable us to strengthen our environmental presence in Western Canada, positioning us as the ‘go-to’ environmental consulting firm in Canada. We also expect to generate significant revenue synergies as we grow our environmental and geotechnical platforms in Canada,” said David Ackert, President and CEO of WSP in Canada.” He added: “Through their leadership, expertise and creativity, Levelton’s team has built and grown an exceptional practice of environmental and related services focusing on public as well as private-sector clients. We view this as a great opportunity to accelerate our growth in the environmental sector across Canada.”
Nick Davis, President of Levelton Consultants Ltd., offered this assessment: “Partnering with WSP’s team of experts is great news for Levelton. We are happy to be associated with a team whose values are aligned with our own and reflect a similar dedication to excellence and strong client relationships. This joining of forces signals a strong vision for the future of services in our region and across Canada and we are pleased to be part of the realization of this vision. As partners of an organization with a global presence, we believe that the strength of Levelton’s expertise coupled with WSP’s outreach will allow us to leverage our respective knowledge and resources to better serve our clients.”
Founded in 1966, Levelton is a multidisciplinary firm of consulting engineers, scientists and technologists providing engineering and scientific services to a client base that includes residential, industrial and commercial owners, public-sector entities, design-build contractors, architects and engineering consultants. In support of its engineering and scientific practices, Levelton operates comprehensive laboratories and provides testing services for construction materials, soils, aggregates, air and water.
WSP, through its acquisition of Parsons Brinckerhoff, is one of the world’s leading professional services firms in its industry, working with governments, businesses, architects and planners and providing integrated solutions across many disciplines. The firm provides services to transform the built environment and restore the natural environment, and its expertise ranges from environmental remediation to urban planning, from engineering iconic buildings to designing sustainable transport networks and from developing the energy sources of the future to enabling new ways of extracting essential resources. It has approximately 31,000 employees, including engineers, technicians, scientists, architects, planners, surveyors and environmental specialists, as well as other design, program and construction management professionals, based in more than 500 offices, across 39 countries, on 5 continents.
Certain information regarding WSP contained herein may constitute forward-looking statements. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although WSP believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. WSP’s forward-looking statements are expressly qualified in their entirety by this cautionary statement. The complete version of the cautionary note regarding forward-looking statements as well as a description of the relevant assumptions and risk factors likely to affect WSP’s actual or projected results are included in the Management Discussion and Analysis for the fourth quarter and year ended December 31, 2014, which are available on SEDAR at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof and WSP does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise unless expressly required by applicable securities laws.
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