Global design and professional services giant WSP Global Inc. has secured a $1.8-billion deal to purchase the environment and infrastructure consulting business of Wood Group, enabling it to add 5,500 employees, for a workforce total of about 20,000, and $830 million in revenue for its earth and environmental practice, the Montreal-based firm said. The deal, set to close in the fourth quarter, would provide Wood cash to cover debt liabilities. The value of the transaction, set to close in the fourth quarter, represents about 14.6 times the earnings before interest, taxes, depreciation and amortization of Wood's environment and infrastructure business (E&I), WSP Global said in its June 1 announcement. As part of the firm's previously stated strategic plan to rapidly boost environmental services, the deal would enable it to position itself as a leader in the clean energy transition, says Andre-Martin Bouchard, WSP Global director, earth & environment.
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