WSP Completes Acquisition of John Wood Group plc’s Environmental and Infrastructure Business, Extending Its Environmental Leadership Canadian Business Journal

MONTREAL, Sept. 21, 2022 (GLOBE NEWSWIRE) — WSP Global Inc. (TSX: WSP) (“WSP” or the “Company”) announces the completion of its previously announced acquisition of its environmental and infrastructure business. (“E&I” of John Wood Group plc (“Timber”)) through a sale and purchase agreement (“Acquisition”). E&I provides engineering, remediation consulting, environmental permitting, inspection, monitoring, and environmental management services to government, industrial, infrastructure, oil and gas, power, water, and mining clients. E&I’s 6,000 professionals are based in approximately 100 offices in over 10 countries, primarily in the United States, Canada and the United Kingdom, with his second location in Latin America and Europe.

“We are delighted to welcome E&I’s 6,000 professionals to the WSP family, and excited to create a strong market leader from two respected organizations with bold ambitions. Together, we will be able to offer our clients an expanded world-class, interdisciplinary offering while delivering new solutions and enhanced value. We will be able to seize more opportunities in the field,” said Alexandre L’Heureux, President and CEO of WSP.

“In line with our global strategic action plan, this acquisition, along with other recently announced transactions, will help us achieve our strategic ambitions while expanding our geographic reach and adding expertise in key sectors. This will create even more momentum as it future-proofs the city and the environment,” he added.

“We are thrilled to join the world’s leading consulting firm, where we will combine our expertise with enhanced service capabilities, global reach, and a deep portfolio of technical experts. Together with WSP, we are a unique advisor and provider to our clients in all sectors and services, and our employees’ aspirations for a more sustainable future are driven by growth. We are the industry leader at a time when environmental and infrastructure needs are a global priority,” said Joe Sczurko, executive president of E&I Consulting.

The total cash consideration payable in connection with the acquisition is approximately US$1.81 billion (approximately C$2.4 billion), subject to adjustment. The acquisition and other related transaction costs were financed using his US$1.81 billion Term Credit Facility for various terms up to five years.

About WSP
As one of the world’s leading professional services companies, WSP exists to future-proof our cities and environment. We provide strategic advisory, engineering and design services to clients in the transportation, infrastructure, environment, architecture, power, energy, water, mining and resources sectors. Our 63,000 trusted professionals are united by a common purpose to make a positive, long-term impact on the communities we serve through a culture of innovation, integrity and inclusivity. Sustainability and science permeate our work. WSP will derive nearly half of its $10.3 billion (CAD) revenue in 2021 from clean sources. The company’s shares are listed on the Toronto Stock Exchange (TSX: WSP). For more information, please visit www.wsp.com.

Forward-Looking Statements
This press release contains information or statements that are or may be “forward-looking statements” within the meaning of applicable Canadian securities laws. As used in this press release, “may”, “will”, “should”, “expect”, “plan”, “predict”, “believe”, “estimate” , “anticipate”, “anticipate”, “project”, “intend”, “goal”, “potential”, “continue”, or negatives of these terms, or the acquired company, company is intended to identify terms and forward-looking statements of a similar nature that relate to our affiliates or combined companies. The forward-looking statements in this press release include statements regarding the acquisition, the new term credit facility, expected benefits from the acquisition, and the Company’s future growth, operating results, business performance, prospects and opportunities, and expected synergies. , and certain expected financial ratios. Although we believe that the expectations and assumptions on which such forward-looking statements are based are reasonable, no assurance can be given that the forward-looking statements will prove correct and You should not place undue reliance on forward-looking statements. These statements are subject to certain risks and uncertainties and actual results may differ materially from those anticipated or implied by forward-looking statements, including risks and uncertainties related to: may be based on certain assumptions. acquisition gains, integration of E&I businesses, loss of certain key E&I personnel, inability to achieve anticipated synergies, increased liabilities, transition risk, potential undisclosed costs or liabilities related to acquisitions; , reliance on information provided by E&I, change of control and other similar provisions and fees, the nature of the acquisition, that the combined company will continue to face the same risks that the company faces today. Facts, Potential Litigation, and Other Factors Explained or Referenced in “Risk Factors” Section of WSP Management Discussion and Analysis for the Year e December 31, 2021 and July 2022 WSP’s management discussion and analysis (collectively, “MD&A”) for the six months ended today are available from SEDAR’s WSP profile at www.sedar.com. The preceding list is not exhaustive and other unknown or unpredictable factors may also materially and adversely affect the performance or results of WSP or E&I. WSP’s forward-looking statements are fully qualified by this cautionary statement. See MD&A for additional information in this cautionary statement regarding forward-looking statements and related assumptions and descriptions of risk factors that may affect WSP’s actual or forecast results. com. The forward-looking statements contained in this press release are made as of the date of this press release and, except as required under applicable securities laws, WSP may not make any statements, whether written or oral, to does not undertake to update or revise these forward-looking statements. By itself or instead, from time to time, as a result of new information, future events, or otherwise. Any forward-looking statements contained in this press release are expressly qualified by these cautionary statements.

Please contact us for more information.

Alan Michaud
CFO
WSP Global Co., Ltd.
[email protected]
Phone: 438-843-7317

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