WSP completes acquisition of BG Consulting Engineers, reinforcing its presence and service offer in EuropePascale Grossmann
MONTREAL, January 31, 2023 (GLOBE NEWSWIRE) – WSP Global Inc. (TSX: WSP) (“WSP” or the “Corporation”) is pleased to announce that it has completed its previously announced acquisition of Lausanne-based BG Bonnard & Gardel Holding SA (“BG Consulting Engineers” or “BG”), one of Switzerland’s leading engineering consulting firms, following the unanimous approval of BG’s shareholders.
With some 700 professionals based primarily in Switzerland and France, as well as a minor presence in Portugal and Italy, BG offers consulting, engineering, and project management services in the infrastructure, building, water, environment, and energy sectors. In line with WSP’s Global Strategic Action Plan, the acquisition of BG reinforces WSP’s foothold in Europe while increasing its Swiss workforce fourfold to over 600 professionals and almost doubling its staff in France.
“We are thrilled to begin 2023 by welcoming BG’s highly-skilled professionals to the WSP family. Together, we have a great opportunity to further strengthen our European business, thanks to our increased presence in Switzerland and France and our enhanced offering to clients in our core markets, as well as in key fast-growing sectors, including Environment, Renewable Energy, and Water,” said Alexandre L’Heureux, WSP’s President and CEO. “I am also very pleased to welcome Pierre Epars, BG’s current CEO, as WSP’s new CEO for the Western European region.”
“It is an exciting time for BG’s professionals to join WSP’s growing European business,” said Mark Naysmith, WSP’s CEO for the UK, Europe, Middle East, and Africa. “Our goal will be to create strong, long-lasting relationships with our clients by providing the best mix of value and services as their number-one choice.”
“We are delighted to officially join WSP and to continue our work as part of a larger organization dedicated to serving people and the environment,” said Pierre Epars, BG’s CEO. “As I take up my new role, I am honoured to have this opportunity to help grow WSP’s business in Western Europe. I am convinced we will accomplish great things by joining forces.”
About BG Consulting Engineers
BG Consulting Engineers is a well-established engineering consulting firm founded in Switzerland in 1954. With more than 700 employees based in offices in Switzerland, France, Portugal and Italy, BG provides strategic advisory, engineering, and design services in the following sectors: transportation infrastructure and mobility, private real estate and public buildings, water and environment, and energy. Driven by innovation and high-performance standards, BG professionals are partnering with their public and private customers to anticipate their needs and create advanced, achievable solutions throughout the entire project life-cycle. Balancing human and environmental impact and deploying transversal approaches, BG is proactively addressing climate change and urbanization to support local communities and regions. To find out more, visit: www.bg-21.com.
As one of the world’s leading professional services firms, WSP exists to future-proof our cities and our environment. It provides strategic advisory, engineering, and design services to clients in the transportation, infrastructure, environment, building, power, energy, water, mining, and resource sectors. Its 65,000 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. Sustainability and science permeate its work. WSP derived about half of its $10.3B (CAD) 2021 revenues from clean sources. Its shares are listed on the Toronto Stock Exchange (TSX: WSP). To find out more, 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”, “forecast”, “project”, “intend”, “target”, “potential”, “continue” or the negative of these terms or terminology of a similar nature as they relate to the Corporation, an affiliate of the Corporation or the combined firm following the acquisition of BG, are intended to identify forward-looking statements. Forward-looking statements in this press release include, without limitation, those information and statements relating to the acquisition of BG; the expected benefits of the acquisition of BG; the strength, complementarity, and compatibility of BG’s business with WSP’s existing business and teams; other anticipated benefits of the acquisition of BG; WSP’s leadership position in its markets; and statements relating to the Corporation’s future growth, results of operations, performance, business, prospects and opportunities, and other statements that are not historical facts. Although the Corporation believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements since 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 risks and uncertainties relating to WSP’s inability to successfully integrate the BG business upon completion of the transaction; the potential failure to realize anticipated benefits from the acquisition of BG; WSP’s reliance upon information provided by BG in connection with the proposed transaction; potential undisclosed costs or liabilities associated with the acquisition of BG, and other factors discussed or referred to in the “Risk Factors” section of WSP’s Management’s Discussion and Analysis for the year ended December 31, 2021, and WSP’s Management’s Discussion and Analysis for the nine-month period ended October 1, 2022 (together, the “MD&As”), which are available under WSP’s profile on SEDAR at www.sedar.com. The foregoing list is not exhaustive and other unknown or unpredictable factors could also have a material adverse effect on the performance or results of WSP.
Forward-looking statements made by the Corporation are based on a number of assumptions believed by the Corporation to be reasonable as at the date of this news release or MD&As, as applicable, including assumptions about WSP’s ability to achieve synergies and maintain market position arising from successful integration plans relating to the acquisition of BG; WSP’s ability to attract and retain key employees in connection with the BG acquisition; management’s estimates and expectations in relation to future economic and business conditions; the accuracy and completeness of disclosures by BG; and other factors discussed or referred to in the “Risk Factors” section of WSP’s MD&As, which are available under WSP’s profile on SEDAR at www.sedar.com. If any of these assumptions prove to be inaccurate, the Corporation’s actual results could differ materially from those expressed or implied in the forward-looking statements.
WSP’s forward-looking statements are expressly qualified in their entirety by this cautionary statement. For additional information on this cautionary note regarding forward-looking statements as well as a description of the relevant assumptions and risk factors likely to affect WSP’s actual or projected results, reference is made to the MD&As, which are 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 required under applicable securities laws, WSP does not undertake to update or revise these forward-looking statements, whether written or verbal, that may be made from time to time by itself or on its 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.
For additional information, please contact:
Chief Financial Officer
WSP Global Inc.