WSP Global says it has agreed to acquire all of the issued and outstanding shares of Enterra Holdings Ltd, the holding company of Golder Associates, as part of a $1.14 billion cash deal.
Alexandre L’Heureux, President and Chief Executive Officer of WSP, said the deal would create the leading global environmental consulting firm with approximately 14,000 of its 54,000 professionals dedicated to accelerating the world’s “green transition”.
“The combination ideally positions WSP to capitalise on the rapidly growing ESG trends driving demand for environmental services and sustainable infrastructure development,” he said.
The combination of Golder and WSP, which is being supported by Golder’s partners, would see WSP’s earth sciences and environmental consulting services represent circa-25% or $2 billion of WSP’s total $8 billion pro-forma net revenues, it said.
Dr Hisham Mahmoud, Global President and Chief Executive Officer of Golder, said: “Over the last 60 years, Golder has been on a journey where we have built one of the most successful and respected brands in the industry.
“Combining Golder’s industry-leading expertise with WSP’s impressive world-class platform and highly complementary services will provide long-term benefits for our people and help create greater value for our clients.”
The acquisition is expected to be completed in the first half of the June quarter of 2021, WSP said.