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WSP AND GENIVAR – STRONGER TOGETHER

The merger between the two engineering and design consultancies, WSP Group PLC and GENIVAR Inc., was finalised today, creating a world-class professional services firm with combined revenues of £1.1 billion (C$1.8 billion) and approximately 14,500 employees, working in over 300 offices on every continent.

 

Under the terms of the merger, WSP shareholders received 435p for each WSP share, valuing the share capital of WSP at approximately £278 million.

The combination of WSP’s international spread and GENIVAR’s extensive business in Canada creates one of the strongest global presences in the industry, offering diversified services across many geographic regions, market segments and in the public and private sectors. The strong balance sheet of the combined entity will provide further resilience and a strong platform for growth, with enhanced ability to serve global clients and pursue large-scale projects. 

Through WSP and GENIVAR, the skills, knowledge and experience of both firms are combined to increase the range and depth of the service offering and develop new and existing geographies and markets.  The expertise of both companies will be leveraged to drive cross-selling opportunities across the globe, building on WSP’s world-class position in many sectors including high rise, bridge and rail infrastructure, and on GENIVAR’s extensive experience in mining, natural resources and energy. 

Commenting on the merger, Chris Cole, Executive Chairman of the combined entity and formerly CEO of WSP, said: “WSP and GENIVAR fit well together, with aligned strategic ambitions, a shared entrepreneurial spirit and our resolute focus on clients. As a people business, we have a complementary culture and shared values, and our people demonstrate the same dedication and enthusiasm, thriving on excellence, innovation and great working relationships.”

President and CEO of the combined entity, Pierre Shoiry, added: “The combination of WSP and GENIVAR is compelling and results in a company with an extremely wide array of expertise, enabling us to pursue our joint growth strategy and broaden the range of opportunities for clients, employees and new potential partners. Being stronger together, we look forward to developing our global international network, cross-selling our know-how and pursuing our acquisition strategy, thus optimising the benefits this merger will bring to all our stakeholders.”

Until operational and financial integration is completed, both firms will continue to operate under their respective brand. 

For further information please contact:

Bridget Kennerley: bridget.kennerley@wspgroup.com; +44 (0)207 314 4631  

Note to editors

WSP, through its combination with GENIVAR, is one of the world’s leading professional services firms, working with governments, businesses, architects and planners and providing integrated solutions across many disciplines. The firm provides services to transform the built environment and restore the natural environment, and its expertise ranges from environmental remediation to urban planning, from engineering iconic buildings to designing sustainable transport networks, and from developing the energy sources of the future to enabling new ways of extracting essential resources. It has 14,500 employees, including engineers, planners, project managers, technicians, environmental experts and other specialists, based in more than 300 offices, across 35 countries, on every continent. www.wspgroup.com