MONTREAL, April 09, 2024 (GLOBE NEWSWIRE) -- WSP Global Inc. (TSX: WSP) (WSP or the Corporation) announced today that it has entered into an agreement to acquire 1A Ingenieros, S.L. (1A Ingenieros), a 250-employee Spanish consulting firm operating mainly in the Power & Energy sector. The acquisition is expected to be completed in the second quarter of 2024.
This transaction will enhance WSP's capabilities in Spain in the Power & Energy sector, creating a strong multidisciplinary business in the region with a balanced portfolio in the three core markets ” Transportation & Infrastructure, Power & Energy, Property and Buildings, and presence in Earth and Environment. It will also increase WSP's local workforce by approximatively 70 % and expand its geographical presence in the country with the addition of four new regions: Castilla y León, Galicia, Castilla-La Mancha, and Extremadura. With a combined team of approximately 600 employees, WSP will become one of the leading international engineering firms in the country.
This acquisition tracks our strategic ambitions to grow our offering in Central Europe and key sectors, and we are eager to welcome our new colleagues, said Alexandre L'Heureux, President and CEO of WSP. Together with 1A Ingenieros, we will significantly increase our local presence and broaden our client base, creating new opportunities for WSP in Spain.
We are thrilled to announce the proposed acquisition of 1A Ingenieros and look forward to leveraging the power of a unified team in Spain. With a deepened pool of expertise in the growing Power & Energy sector, including additional capabilities in transmission and distribution, we will be able to enhance our service offering and grow our business across the country, said Manuel Pérez, Managing Director, WSP in Spain.
We are eager to merge our local expertise with WSP's global reach, driving innovation and opening new opportunities for our people, to nurture their professional growth and pave the way for their future success, said Ricardo Fortuoso Martin, President of 1A Ingenieros.
ABOUT 1A INGENIEROS1A Ingenieros is the leading engineering company in Castilla y León (Spain) that has been operating throughout the Iberian Peninsula for more than 25 years. The company has more than 250 professionals in five main delegations and carries out its activity in the areas of renewable energy, electricity distribution and transportation, sustainable mobility, the industrial sector, and the environment. 1A Ingenieros has a wide network of clients, among which important companies in the energy sector and industrial multinationals in the automotive sector stand out.
ABOUT WSPAs one of the largest professional services firms in the world, WSP exists to future-proof our cities and our environment. It provides strategic advisory, engineering and design services to clients seeking sustainable solutions in the transportation, infrastructure, environment, building, energy, water, and mining sectors. Its 66,500 trusted professionals are united by the common purpose of creating positive, long-lasting impacts on the communities it serves through a culture of innovation, integrity, and inclusion. In 2023, WSP reported $14.4 B (CAD) in revenue. The Corporation's shares are listed on the Toronto Stock Exchange (TSX: WSP).
FORWARD-LOOKING STATEMENTSThis press release contains information or statements that are or may be forward-looking statements within the meaning of applicable Canadian securities legislation. Forward-looking statements may include estimates, plans, strategic ambitions, objectives, expectations, opinions, forecasts, projections, guidance, or other statements that are not historical facts. Forward-looking statements in this press release include, without limitation, information and statements relating to 1A Ingenieros; the expected benefits of 1A Ingenieros's acquisition; WSP's leadership position in its markets; and statements relating to the Corporation's future growth, business performance, prospects and opportunities. These forward-looking statements are based on a number of assumptions believed by the Corporation to be reasonable as at the date of this press release, including assumptions on WSP's ability to achieve synergies and maintain its market position as a result of the successful integration of 1A Ingenieros; WSP's ability to attract and retain key 1A Ingenieros employees, management's estimates and expectations concerning future economic and business conditions; and the accuracy and completeness of the information disclosed by 1A Ingenieros. 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 risk factors, which, if realized, could cause the Corporation's actual results to differ materially from those expressed or implied in forward-looking statements, are discussed in greater detail in section 20, Risk factors of WSP's MD&A for the quarter and year ended December 31, 2023 which is available on SEDAR+ at www.sedarplus.ca. The forward-looking statements contained in this press release are made as of the date hereof and, accordingly, are subject to change after such date. Except to the extent required by applicable law, WSP does not assume any obligation to publicly update or revise any forward-looking statements made in this press release or otherwise, whether as a result of new information, future events or otherwise.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
Alain MichaudChief Financial OfficerWSP Global Inc.Phone: 438-843-7317ƒalain.michaud@wsp.com
Source: Groupe WSP Global Inc.