On August 12, 2024, Montreal-based WSP announced the acquisition of Power Engineers Inc. This 1.78 billion dollar purchase was made as part of their strategy to exceed the objectives of their 2022-2024 Global Strategic Action Plan.
Holger Peller, President and COO of Power Engineers Inc., is expected to drive accelerated growth by leading the P&E platform while remaining under the Power Engineers brand for the foreseeable future. The acquisition is said to complement WSP’s Property and buildings, Transport and infrastructure, and Earth and environment sectors.
“By uniting WSP’s extensive global network and POWER’s deep technical expertise, we are poised to provide exceptional solutions and service quality to foster significant advancements in the communities we serve,” said WSP’s Alexandre L’Heureux, President and Chief Executive Officer. “The trust of our shareholders and our commitment to excellence will empower us to influence the future of the energy sector as we plan to expand our reach and power a sustainable future across the globe.”
This acquisition by WSP follows four other acquisitions made earlier this year. L’Heureux says expanding energy and power expertise is key to taking advantage of the global shift towards cleaner energy.
Power Engineers Inc. is a consulting firm and leader in the energy sector. It specializes in environmental consulting and has 50 offices and over 4,000 employees across North America.
This acquisition is subject to Power Engineers’ regulatory approval in the U.S. The transaction is expected to be closed in approximately early Q4 2024.
