WSP Acquires LGT and Strengthens Its Building Services Offering in Quebec
MONTREAL, May 03, 2023 (GLOBE NEWSWIRE) — WSP Global Inc. (TSX: WSP) (“WSP” or the “Corporation”) is pleased to announce the acquisition of LGT Inc. (“lgt”), a Quebec-based building engineering firm. lgt provides advisory services in the areas of mechanical engineering, electricity, sustainable development, structural, and civil engineering. It is also recognized for its cutting-edge expertise involving data centres and critical infrastructure.
By welcoming lgt, WSP is positioning itself as an essential player in the building engineering consulting field in Quebec, as well as in the highly strategic data centre industry. lgt has over 150 employees at offices in Quebec City, Laval, Rimouski, and Sept-Iles.
“WSP is pleased to welcome lgt’s solid team. Together, we have an opportunity to ramp up our presence in Quebec’s building market. We also intend to pool our expertise in the data centre sector while strengthening our capacities in this growing market across Canada,” said Alexandre L’Heureux, President and CEO of WSP Global.
“The acquisition of lgt ties in perfectly with our Canadian strategy and building sector approach. It will also strengthen our service offer, particularly in the education, cultural building, and data centre sectors. We are delighted to bring the benefits of our complementary expertise to our clients in Quebec and across Canada,” added Marie-Claude Dumas, President, and CEO of WSP Canada.
“We are excited by this new adventure. We know our team’s potential, so we are convinced that joining WSP will enable us to fast-track our shared goal of becoming the leader in Quebec’s building engineering sector. Our ambitious entrepreneurial culture and our dynamic workforce will be undeniable assets for the WSP family,” said Moïse Gagné, President of lgt.
Founded in 1998, lgt provides advisory services in the areas of mechanical, electrical, structural, and civil engineering, as well as sustainable development. It is well-established as a key player in Quebec’s consulting engineering sector. Its consulting services exceed expectations thanks to the expertise of its professional staff and its core values of collaboration, integrity, creativity, and agility.
As one of the largest professional services firms in the world, WSP exists to future-proof our cities and our environment. It provides strategic advisory, engineering and design services to clients seeking sustainable solutions in the transportation, infrastructure, environment, building, energy, water, and mining sectors. Its 67,000 trusted professionals are united by the common purpose of creating positive, long-lasting impacts on the communities it serves through a culture of innovation, integrity, and inclusion. In 2022, WSP reported $11.9 B (CAD) in revenue. The Corporation’s shares are listed on the Toronto Stock Exchange (TSX: WSP).
This press release contains information or statements that are or may be “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements may include estimates, plans, strategic ambitions, objectives, expectations, opinions, forecasts, projections, guidance, or other statements that are not historical facts. Forward-looking statements in this press release include without limitation, information and statements relating to lgt; the expected benefits of lgt’s acquisition; WSP’s leadership position in its markets; and statements relating to the Company’s future growth, business performance, prospects, and opportunities. These forward-looking statements are based on a number of assumptions believed by the Company to be reasonable as of the date of this press release, including assumptions on WSP’s ability to achieve synergies and maintain its market position as a result of successfully integrating lgt; WSP’s ability to attract and retain key lgt employees; management’s estimates and expectations concerning future economic and business conditions; the accuracy and completeness of the information disclosed by lgt. Although WSP believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. WSP’s forward-looking statements are expressly qualified in their entirety by this cautionary statement. The complete version of the cautionary note regarding risk factors, which, if realized, could cause the Company’s actual results to differ materially from those expressed or implied in forward-looking statements, are discussed in greater detail in section 20, “Risk factors” of WSP’s MD&A for the quarter and year ended December 31, 2022, which is available on SEDAR at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof and, accordingly, are subject to change after such date. Except to the extent required by applicable law, WSP does not assume any obligation to publicly update or revise any forward-looking statements made in this press release or otherwise, whether because of new information, future events or otherwise.
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