- WSP’s acquisition of RPS accelerates the execution of its 2022-2024 global strategic action plan
- RPS is a UK-based consulting business with 5,000 employees globally
- The deal significantly increases WSP’s services in advisory, planning and program management
WSP Global, a Montreal-based professional services business, this week said it has agreed to acquire RPS Group, an Abingdon, UK-based environmental consulting company.
The deal values RPS at £625 million or C$975 million. It represents a multiple of approximately 14.9x RPS Group’s adjusted earnings for the twelve months ending 30 June 2022
As part of the deal, WSP will raise C$400 million in a private placement from existing shareholders GIC, Caisse de dépôt et placement du Québec and Canada Pension Plan Investment Board.
RPS, founded in 1970, has a strong sustainability focus with approximately 2/3 of revenues from environmental work and water services. Its acquisition significantly increases WSP’s services in advisory, planning and program management. RPS provides specialist services to government and private sector clients with a focus on front-end consulting
“We are pleased to announce the proposed acquisition of RPS as it will enable us to rapidly deliver on our Global Strategic Action Plan and create value for all our stakeholders,” said Alexandre L’Heureux, president and CEO of WSP.
“RPS is a perfect fit as it adds depth to our current platform and is highly complementary, in terms of geographies and sectors, to our recently announced agreement to acquire the Environmental and Infrastructure business of the John Wood Group plc,” he said. “When completed, our recently announced transactions will bring our workforce to approximately 70,000, with approximately 23,000 environmental experts across the globe. We are proud that we are building a strong ESG leader with significant capabilities in water and energy and contributing significantly towards the transition to a greener and low-carbon world.”