WSP, a leading Montreal-based engineering and design firm, is set to acquire Power Engineers Inc., a major player in the power and energy sector, for $1.78 billion. This Hailey, Idaho firm is well-established with around 4,000 employees and 50 offices, providing top-notch consulting services to North American power utilities and specializing in environmental consulting. Despite the acquisition, Power Engineers will continue to operate under its own brand, with Holger Peller, its current president and COO, taking the helm globally.
This move is part of WSP’s strategy to enhance its core business areas, which include Transport & Infrastructure, Property & Buildings, and Earth & Environment. WSP has been actively expanding its portfolio, evident from its recent acquisitions, which include AKF, a New York-based mechanical, electrical, and plumbing firm; Finnish rail consultancies Proxion Pro and Proxion Plan; Communica Public Affairs from Canada, known for Indigenous and stakeholder engagement; and 1A Ingenieros, a Spanish firm in the power and energy sector.
The acquisition of Power Engineers is expected to boost WSP’s capabilities in power and energy, aligning with the global shift towards cleaner energy. This move aims to position WSP as a leader in the energy transition, offering a broader range of innovative solutions for its clients and fostering professional growth for its employees.
The deal is still pending approval from Power Engineers’ shareholders and U.S. regulatory authorities, with a target closing date in early Q4 2024.
WSP’s acquisition of Power Engineers Inc. for $1.78 billion marks a strategic expansion into the power and energy sector. Power Engineers, with its 4,000 employees and 50 offices, will retain its brand under the leadership of Holger Peller. This acquisition enhances WSP’s capabilities in energy and environmental consulting, aligning with the global shift towards cleaner energy. It complements WSP’s recent acquisitions, including firms in mechanical, electrical, and rail consultancy, and aims to solidify WSP’s leadership in energy transition. Pending shareholder and regulatory approvals, the deal is expected to close in early Q4 2024, boosting WSP’s service offerings and professional growth opportunities.
