WSP Global expects to complete the acquisition for an aggregate purchase price of CAN$425m (拢203m) subject to certain adjustments.
The addition of MMM Group鈥檚 2,000 employees will bring WSP鈥檚 workforce to 8,500 in Canada and 34,000 worldwide.
MMM has 18 offices in Canada and its three main operating segments are transportation, building and infrastructure and environment. The company is also active in the delivery of major public-private partnership projects involving transportation, highways, bridges, transit, airports and buildings.
Hugo Blasutta, chief executive officer of MMM, said: 鈥淭his transaction supports the realisation of both companies' strategic aims and offers MMM a strong platform for continued growth both in Canada and internationally. We believe it will provide our employees and our clients with enhanced opportunities and we expect to achieve increased prominence globally in the areas in which we excel.鈥�
Upon closing of the acquisition, David Ackert will continue as president and chief executive officer of WSP Canada. Hugo Blasutta will join the corporate team of WSP Parsons Brinckerhoff.聽
Pierre Shoiry, president and chief executive officer of WSP Parsons Brinckerhoff, said: 鈥淲ith the addition of MMM, WSP now has an even stronger and attractive global platform of 34,000 people and we anticipate continued consolidation in our industry; we are also pleased with the support of our investors that enable us to maintain a strong balance sheet and respond quickly to opportunities that enhance our technical skills and fulfill our strategic objectives.鈥�
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