WSP Global says the acquisition hunt has not ended after the “consolidation” phase.

MONTREAL — WSP Global says acquisitions will remain a key part of its expansion strategy, even after acquiring four companies this year.

The engineering firm purchased four consulting firms in four countries – Canada, Finland, Spain and the United States – employing more than 800 employees.

These purchases follow five other acquisitions since September 2022, when WSP acquired the environmental and infrastructure business of UK-based John Wood Group for $1.81 billion.

As of March 31, employment at the Montreal-based company was 67,200.

CEO Alexandre L’Heureux says that after a year of “consolidation”, the pieces are ready and can continue to develop within existing businesses as well as those yet to be acquired.

The company said healthy organic revenue growth helped deliver a 13 percent increase in net earnings to $126.8 million in the first quarter.

This report by The Canadian Press was first published May 9, 2024.

Companies in this story: (TSX:WSP)

Canadian Press