WSP to acquire U.S. consulting firm POWER Engineers for $2.44B

Key Takeaways:

• WSP has agreed to acquire POWER Engineers, a U.S. consulting firm specializing in the power and energy sector, for $2.44 billion.
• The acquisition of POWER Engineers is expected to enhance WSP’s existing core sectors—transport and infrastructure, property and buildings, and earth and environment—while creating new cross-selling opportunities and driving accelerated growth in the power and energy sector.
• The acquisition is a key step in WSP’s long-term strategy to lead the global energy transition.

The Whole Story:

Global professional services firm WSP has entered into an agreement to acquire POWER Engineers, a U.S. consulting firm that focuses on the power and energy sector, for $2.44 billion.

WSP stated that POWER stands out with its nearly 50-year legacy of innovation and technical excellence, a highly respected brand, and a reputation for delivering on complex projects. Based in Hailey, Idaho, POWER’s team of approximately 4,000 employees, including approximately 900 shareholders, has a track record of serving the most prominent power utilities in North America.

The proposed acquisition is a strategic move in alignment with WSP’s vision to expand and enhance its power and energy services.

Once the proposed acquisition is closed, the integration of POWER is expected to complement WSP’s existing three core sectors: Transport and infrastructure, property and buildings, and earth and environment; it will also create extensive cross-selling opportunities. WSP officials noted that welcoming POWER to their power and energy platform, which will be led globally by Holger Peller, the current president and COO of POWER, is anticipated to drive accelerated growth.

WSP officials stated that the proposed acquisition underscores WSP’s commitment to its long-term vision and 2022-2024 Global Strategic Action Plan, marking a pivotal step in building a leading global power and energy franchise.

“The acquisition will mark a transformative step that will position us at the forefront of the energy transition. This opportunity brings forth a wealth of strategic benefits, including an expanded suite of innovative solutions for our clients and continuous professional growth opportunities for our employees,” commented Alexandre L’Heureux President and Chief Executive Officer of WSP. “By uniting WSP’s extensive global network and POWER’s deep technical expertise, we are poised to provide exceptional solutions and service quality to foster significant advancements in the communities we serve. The trust of our shareholders and our commitment to excellence will empower us to influence the future of the energy sector as we plan to expand our reach and power a sustainable future across the globe.”

Also commenting on the Acquisition, Jim Haynes, Chief Executive Officer of POWER said: “POWER and WSP truly are stronger together. By joining forces, we can supercharge our ability to help clients and communities around the world adapt to the changing energy landscape—and provide more opportunities for our team members to work on the most challenging projects. We’re looking forward to building success together with WSP.”