WSP Completes Acquisition of Golder, Creating the Leading Global Environmental Consulting Firm, and Announces an Executive Leadership Appointment in Canada Toronto Stock Exchange:WSP
MONTREAL, April 7, 2021 (GLOBE NEWSWIRE) – WSP Global Inc. (TSX: WSP) (“WSP” or the “Company”) is pleased to announce that it has completed the previously announced acquisition of Enterra Holdings Ltd. , the holding company of Golder Associates (“Golder”), by way of a plan of arrangement under the Companies Act (Nova Scotia) (the “Acquisition”). Golder is a global consulting firm with approximately 7,000 employees and 60 years of experience providing earth science and environmental consulting services.
The total cash consideration payable in connection with the acquisition is approximately US $ 1.14 billion (approximately C $ 1.4 billion), which was paid in cash. The acquisition and other related transaction costs were funded with the proceeds of the C $ 310 million private placements of subscription receipts previously entered into by the Company with GIC Pte. Ltd., and British Columbia Investment Management Corporation, and new bank financing term loans.
“Today we have taken an important transformational step for WSP, Golder and our 54,000 employees around the world as we embark on our journey together as a global leader in environmental consulting,” said Alexandre L’Heureux , President and CEO of WSP. “This acquisition contributes directly to the achievement of the objectives we have defined in our 2019-2021 global strategic plan. We anticipate that the addition of Golder will contribute to both strategic growth and value creation for many years to come. “
“Over the past several months, the leadership teams at WSP and Golder have worked together to lay the foundation necessary to ensure that we unleash the full potential of our increased scale and our broader and deeper suite of solutions to meet challenges. main environmental and ESG challenges worldwide. I am confident that the focus on technical excellence and a shared passion for innovation and collaboration will facilitate onboarding, while providing professional development opportunities for our employees and long-term value for our communities, our customers and our shareholders, ”added Alexandre L’Heureux.
Additionally, Golder executives will occupy strategic positions within the Company’s operating regions and support functions, creating a truly diverse, inclusive and collaborative platform that maximizes integration success with WSP’s current leadership. .
“Golder was built by generations of pioneering, passionate and caring world-class experts who have collectively created one of the industry’s most iconic global brands, supported by a strong inclusive culture with technical excellence and l ‘innovation at its core,’ said Dr. Hisham Mahmoud, Global President and CEO of Golder, who previously announced he would be stepping down to explore other opportunities. “I believe the combination of Golder and WSP will create significant value for our customers and opportunities for our employees. I was impressed with what our teams have already accomplished in the integration planning, which further confirms a shared enthusiasm for the future.
“I want to thank Dr. Hisham Mahmoud for bringing Golder to this point in his journey, as one of the most successful and respected brands in the industry. We wish him the best of luck in his future endeavors, ”said Alexandre L’Heureux.
APPOINTMENT OF EXECUTIVE LEADERSHIP IN CANADA
Marie-Claude Dumas has been appointed President and CEO of WSP in Canada, replacing Ryan Brain who will ensure a smooth transition. Since joining WSP in January 2020, Ms. Dumas has served as Global Director, Major Projects and Programs / Executive Market Leader – Quebec, working closely with our global and Canadian operations and leadership. A member of the Ordre des ingénieurs du QuébecMs. Dumas brings a proven track record as a global engineering and construction executive with over 20 years of multidisciplinary management and consulting experience gained with multiple multinationals.
“As we enter the final year of our strategic cycle, we are confident that Marie-Claude’s extensive technical experience, combined with her track record of delivering major projects, will lay the foundation for continued growth at WSP in Canada. , in addition to capturing the benefits offered by the acquisition of Golder. We thank Ryan Brain for his contribution to the success of WSP’s Canadian operations during his tenure and for his continued support during the transition, ”said Alexandre L’Heureux.
“Having witnessed firsthand the undeniable talent and level of expertise of WSP in Canada over the past year, I am proud to continue to work alongside the Canadian leadership team as we pursue The organization’s strategic ambitions to advance our customer-centric approach and our people development initiatives. “Said Marie-Claude Dumas.
As one of the world’s leading professional services companies, WSP provides engineering and design services to clients in the transportation and infrastructure, real estate and buildings, environment , energy and energy, resources and industry, as well as strategic advisory services. WSP’s global experts include engineers, consultants, technicians, scientists, architects, planners, environmental specialists and surveyors, in addition to other design, program and management professionals. construction. Our talented people are well positioned to deliver successful and sustainable projects, wherever clients need us. For more information on WSP, please visit www.wsp.com
This press release contains information or statements that are or may be “forward-looking statements” within the meaning of applicable Canadian securities laws. When used in this press release, the words “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “predict” , “anticipate”, “plan”, “intend”, “target”, “potential”, “continue” or the negation of these terms or terminology of a similar nature in relation to the company, an affiliate to the company or the merged business as a result of the acquisition, are intended to identify forward-looking statements. Forward-looking statements contained in this press release include, without limitation, information and statements relating to the acquisition and the benefits of the acquisition, as well as the future growth of the company, results of operations, performance activities, outlook and opportunities, expected synergies to be achieved and certain expected financial ratios. Although the Company believes that the expectations and assumptions upon which these forward-looking statements are based are reasonable, forward-looking statements should not be relied upon as no assurance can be given that they will prove to be 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, including the risks and uncertainties relating to the following: l ” possible failure to realize anticipated benefits of the acquisition, integration of Golder’s business, loss of some key Golder personnel, possible inability to realize expected synergies, increased leverage , the transitional risk, the undisclosed costs or potential liabilities associated with the acquisition, reliance on the information provided by Golder, the change of control and other similar provisions and fees, the nature of the acquisitions, the fact that the company resulting from the merger will continue to face the same risks the company currently faces, potential litigation and other f players discussed or mentioned in the “Risk Factors” section of WSP’s MD&A for the year ended December 31, 2020 (the “MD&A”), which is available under WSP’s profile on SEDAR at www.sedar.com. The foregoing list is not exhaustive and other unknown or unforeseeable factors could also have a material adverse effect on the performance or results of WSP or Golder. WSP’s forward-looking statements are expressly qualified in their entirety by this cautionary statement. For further information on this cautionary statement regarding forward-looking statements as well as a description of the relevant assumptions and risk factors that could affect WSP’s actual or projected results, please see the MD&A, which is available on SEDAR at www.sedar. com. The forward-looking statements contained in this press release are made as of the date hereof and, except as otherwise provided by applicable securities laws, WSP does not undertake to update or revise these forward-looking statements, whether be written or verbal, which may be made from time to time by himself or on his behalf, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this press release are expressly qualified by these cautionary statements.
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