WSP Global Inc (TSX: WSP) has bought Dessau CEI SAS, the Colombian engineering subsidiary of Dessau International Inc. The acquisition’s value was not disclosed. WSP, a Canadian professional services business, said the deal supports its South American growth strategy and enhances its expertise in the transportation and energy sectors. Based in Montréal, WSP is backed by Canada Pension Plan Investment Board (CPPIB) and the Caisse de depot et placement du Quebec. Following its October purchase of Parsons Brinckerhoff, CPPIB and the Caisse owned around 17.3 percent and 17.5 percent, respectively, of the company’s common shares.
WSP Acquires Dessau’s Colombian Subsidiary, Strenghtening its Expertise in Transporation and Oil & Gas
MONTREAL, QUEBEC–(Marketwired – Dec. 12, 2014) – WSP Global Inc. (TSX:WSP) (“WSP” or the “Corporation”) today announced the acquisition of Dessau CEI S.A.S (“Dessau CEI”), Dessau International Inc.’s Colombian engineering subsidiary. Active in transportation and oil & gas, the firm has 415 employees based in Bogotá.
“We are pleased with this acquisition, which is an integral part of our South American growth strategy. After having significantly grown in Colombia for the past two years, we believe this transaction will provide a perfect complement to the array of services we offer our clients, as Dessau CEI’s expertise will strengthen our expertise in the transportation and oil & gas sectors,” stated Ali Ettehadieh, Managing Director of South America and the Caribbean for WSP. “Now that we have a strong presence in Colombia and a broader expertise, we would like to leverage that to pursue the next phase of our growth in South America,” he added.
“Partnering with WSP is great news for us as it will give us access to a true global network of experts. As part of a firm with such a global presence, we believe the strength of our expertise in highways supervision and design, energy projects as well as oil pipelines supervision, coupled with their outreach, will create tremendous opportunities for both our clients and employees,” said Luis E. Quintero, Dessau CEI’s General Manager in Colombia.
ABOUT DESSAU CEI
Established in 1960, Compañía de Estudios e Interventorías Ltda., which is Dessau CEI SAS’s predecessor, was founded to provide professional engineering consulting services in the transportation, energy, water and oil and gas sectors. Over the years, Dessau CEI has participated in large engineering projects contributing to the development of the country such as the construction supervision of large dams, the valorisation plan of the city of Bogotá (studies and design of roads, intersections, pedestrian bridges and public spaces) and the Bogotá-Villavicencio Highway (including the design of large tunnels and bridges), which was awarded the 2010 National Engineering Award. In the oil and gas sector, the firm has been in charge of the supervision construction of the biggest part of the oil pipeline system in Colombia for Ecopetrol, the major oil and gas player in Colombia and successfully completed the Control Center Project Management construction of the most important oil refinery in Colombia.
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 32,000 employees, mainly engineers, technicians, scientists, architects, planners, surveyors, other design professionals, as well as various environmental experts, based in more than 500 offices, across 39 countries, on 5 continents. WSP, including Parsons Brinckerhoff, had pro forma revenues of $4.5 billion for the 12 months ended December 31, 2013. www.wspgroup.com
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 have been 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, 2013, 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.
Managing Director of South America and the Caribbean
Director, Communications and Investor Relations
514-340-0046, ext. 5648
Luis E. Quintero
General Manager, Colombia
571 625-1212, ext. 411
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