WSP still looking for further acquisitions despite Parsons deal

摘要

Consultant WSP is still looking for further firms to acquire despite announcing the £820m purchase of Parsons Brinckerhoff from Balfour Beatty last week. The Canadian-based firm plans to pay £820m to buy Parsons Brinckerhoff from Balfour Beatty, financing the transaction with a mixture of cash from CANS1.6bn (£952m) bank finance and CAN$903m (£503m) of newly issued subscription receipts. It is a major deal for WSP and will substantially expand its geographical and sectorial reach, making it one of the world's biggest construction consultants. WSP has 17,500 staff globally and posted revenue of CANS2bn (£1.1bn) for the year to 31 December 2013 and underlying profit, known as Ebitda, of CAN$171.1m (£93.2m). The acquisition will add 170 offices and nearly 13,500 employees on five continents to WSP, covering the transportation, power, energy, community development, water, mining and environment sectors.