WSP Completes Acquisition of Capita REI and GL Hearn Businesses From Capita Plc
MONTREAL, Sept. 23, 2022 (GLOBE NEWSWIRE) — WSP Global Inc. (TSX: WSP) (“WSP” or the “Corporation”) is pleased to announce the completion of its previously announced acquisition of two UK-based businesses: Capita Real Estate and Infrastructure Ltd. (“Capita REI”) and GL Hearn Ltd. (“GLH”), both owned by Capita plc.
Capita REI is a leading provider of specialist advisory, design, engineering, environmental and project management services for land, building and infrastructure owners, while GLH provides cross-sector advice to developers and investors. Together, both businesses will add about 1,000 UK-based employees to WSP’s workforce, reinforcing its existing service offering within the country and expanding its strategic advisory offering.
“I would like to extend a warm welcome to our 1,000 new experts from Capita REI and GL Hearn who will add influence through their solid track record and bolster our workforce in the UK,” said Alexandre L’Heureux, President and Chief Executive Officer of WSP. “Through the acquisitions of Capita REI, GL Hearn and the recently announced Wood’s Environment & Infrastructure closing, WSP will enhance its scale, strengthen its value proposition, and accelerate its growth potential in the UK.”
“We are delighted to welcome our new colleagues from Capita REI and GL Hearn as the matching capabilities and cultures will boost WSP’s expertise in our core markets. This acquisition aligns perfectly with our strategic ambitions in these markets and will support the diversification of our Strategic Advisory offering into adjacent markets,” said Mark Naysmith, Chief Executive Officer of WSP UK & EMEA.
As one of the world’s leading professional services firms, WSP exists to future-proof our cities and our environment. We provide strategic advisory, engineering, and design services to clients in the transportation, infrastructure, environment, building, power, energy, water, mining, and resource sectors. Our 63,000 trusted professionals are united by the common purpose of creating positive, long-lasting impacts on the communities we serve through a culture of innovation, integrity and inclusion. Sustainability and science permeate our work. WSP derived about half of its $10.3B (CAD) 2021 revenues from clean sources. The Corporation’s 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, are intended to identify forward-looking statements. Forward-looking statements in this press release include, without limitation, those information and statements related to the Acquisition, the new term credit facility, the expected benefits of the Acquisition, and the Corporation’s future growth, results of operations, performance business, prospects and opportunities, the expected synergies to be realized and certain expected financial ratios. 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 the following: the possible failure to realize anticipated benefits of the Acquisition, the integration of the E&I business, the loss of certain key personnel of E&I, the possible failure to achieve the anticipated synergies, increased indebtedness, transitional risk, potential undisclosed costs or liabilities associated with the Acquisition, the reliance on information provided by E&I, change of control and other similar provisions and fees, the nature of acquisitions, the fact that the combined firm will continue to face the same risks that the Corporation currently faces, potential litigation 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 six-month period ended July 2, 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 or E&I. 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.
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