WSP Global Inc.
TSX : WSP

WSP Global Inc.

November 02, 2017 08:00 ET

WSP Pursues its Expansion in Latin America, With the Acquisition of ConCol, a Leading Colombian Firm

MONTREAL, QUEBEC--(Marketwired - Nov. 2, 2017) - WSP Global Inc. (TSX:WSP) ("WSP"), one of the world's leading professional services firms, today announced that it is pursuing its expansion in Latin America through the acquisition of Consultoría Colombiana S.A. ("ConCol"), a 1,000-employee professional services firm based in Colombia. The firm has additional offices in Peru, Chile, Panama and Mexico.

ConCol is a multidisciplinary pure play consulting firm, which has a recognized expertise in power, transport, oil & gas, environment, as well as in project management.

"The acquisition of ConCol, which was financed using our available cash and credit facilities, will further strengthen our presence in Latin America, especially in power transmission, a ConCol core market. We now have approximately 2,500 employees in this region, which integration will now be led by Paul Dollin, our Chief Operating Officer", said Alexandre L'Heureux, President and Chief Executive Officer of WSP. "As positive economic data continues to emerge from the Latin American economy, we are confident this transaction will support our plan to be a top tier player in each geography and sector where we operate. We look forward to welcoming all our new employees in Latin America to WSP."

"I have had the opportunity to meet with many WSP professionals from around the world and I am truly excited by the opportunity for our team to become a member of the WSP family. As a global firm with a recognized technical expertise and expanded global network, WSP is the perfect partner for us to pursue our growth. This transaction will translate into tremendous opportunities for both clients and employees, in all Latin America," said Mr. Andrés Manrique Manrique, Chief Executive Officer of ConCol.

ABOUT CONCOL

Founded in 1971, ConCol is a Colombian engineering company, which offers its public and private sector clients services with a multidisciplinary approach that incorporate the application of innovative solutions, high quality and great professional skills. The firm has developed an expertise in studies, planning, design, structuring, development, valuation, supervision and integral project management for clients in the power, transportation, water & sanitation, buildings, oil & gas, environmental & social studies, as well as in the public utility sectors.

ABOUT WSP

As one of the world's leading professional services firms, WSP provides technical expertise and strategic advice to clients in the Property & Buildings, Transportation & Infrastructure, Environment, Industry, Resources (including Mining and Oil & Gas) and Power & Energy sectors. We also offer highly specialized services in project delivery and strategic consulting. Our experts include engineers, advisors, technicians, scientists, architects, planners, surveyors and environmental specialists, as well as other design, program and construction management professionals. With approximately 38,000 talented people in 500 offices across 40 countries, we are uniquely positioned to deliver successful and sustainable projects, wherever our clients need us. wsp.com

FORWARD-LOOKING STATEMENTS

Certain information regarding WSP contained herein may constitute forward-looking statements. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although WSP believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been 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. WSP's forward-looking statements are expressly qualified in their entirety by this cautionary statement. The complete version of the 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 are included in the Management's Discussion and Analysis for the year ended December 31, 2016, which is available on SEDAR at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof and WSP does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise unless expressly required by applicable securities laws.

Contact Information

  • Isabelle Adjahi
    Senior Vice President, Investor Relations and Communications
    WSP Global Inc.
    (438) 843-7548
    isabelle.adjahi@wsp.com