WSP to Acquire Power Engineers, Setting the Stage for Accelerated Growth

WSP Global Inc. (WSP), a leading Canadian consulting firm, has announced its plans to acquire Power Engineers Inc., a prominent energy-focused consulting firm.

The transaction is expected to be completed in the fourth quarter of 2024 and will create a global engineering powerhouse with enhanced capabilities in the energy sector.

WSP will pay approximately $1.78 billion for Power Engineers, which is headquartered in Denver, Colorado. The deal will see WSP acquire Power Engineers' 2,500 employees and expand its presence in the rapidly growing energy market.

WSP President and CEO Alexandre L'Heureux expressed excitement about the acquisition, stating that it "builds on our strategy of expanding our energy capabilities and growing in North America." He added that Power Engineers' "expertise in renewable energy, nuclear power, and transmission and distribution will complement our existing service offerings and enable us to provide comprehensive solutions to our clients."

Power Engineers President and CEO Michael Baker welcomed the deal, saying that "joining WSP will provide our employees with access to a global platform and enhance our ability to deliver innovative solutions for our clients across the energy landscape."

WSP was advised on the transaction by Skadden, Arps, Slate, Meagher & Flom LLP, while Power Engineers was advised by Kirkland & Ellis LLP.