October 12, 2016 - 5:01 AM
Montreal-based WSP Global Inc. is buying a U.K.-based engineering consulting firm with expertise in public transportation and infrastructure, including intelligent systems for managing road traffic.
WSP says it will pay the equivalent of C$120.4 million (75 million pounds) to purchase Mouchel Consulting, which employs about 2,000 people — mostly in the United Kingdom and Ireland.
Mouchel Consulting is currently part of the Kier Group PLC.
WSP provides engineering and other professional services to various industries, with about 34,000 employees in 500 offices across 40 countries.
Formerly called Genivar, the company has grown rapidly in recent years through the acquisition of London-based WSP Global in 2012 and Parsons Brinckerhoff in 2014.
WSP's president and CEO said Wednesday the Mouchel Consulting acquisition is part of a three-year growth strategy begun in 2015.
"It is also in line with our U.K. growth strategy to increase our presence in the U.K. public sector, in order to benefit from the continued government investment in infrastructure," WSP chief executive Alexandre L'Heureux said in a statement
"In addition, the acquisition will enable us to expand our regional public client base as well as optimally balance our revenue breakdown between public and private sector clients."
News from © The Canadian Press, 2016