MONTREAL, Sept. 03, 2019 (GLOBE NEWSWIRE) -- WSP Global Inc. (TSX:WSP) (“WSP”) is pleased to announce that it has acquired Orbicon A/S (“Orbicon”), a 500-employee Danish environmental consulting firm with additional offering in Supply & Infrastructure and Building. The firm also has a presence in Sweden and the Arctic.
The acquisition, which was financed using WSP’s available cash and credit facilities, is aligned with WSP’s 2019-2021 Global Strategic Plan. Orbicon, which generates approximately 75% of its revenues from environmental services, is one of the strongest brands in the environment industry in Denmark. The acquisition of Orbicon will bolster WSP’s presence in the Nordics (more particularly Denmark), while strengthening its Strategic Advisory Services offering in environment.
“This transaction will enable us to fulfil our strategic ambitions of enhancing our activities in the Nordics region, while strengthening our expertise in the environment sector,” noted Magnus Meyer, Managing Director of WSP in the Nordics. “The combination of skills and compatible cultures will provide a great foundation for the two organizations to work together effectively on selected projects, creating attractive and value-enhancing solutions for our clients. We look forward to welcoming all our new colleagues to WSP.”
Per Christensen, Orbicon’s CEO, commented, “Becoming a member of WSP is great news for Orbicon and its employees. By joining WSP, we will significantly strengthen our competitive position across the Nordic region, providing us with access to the global network and the world-class expertise of one of the leading firms in our industry. In addition, being associated with a team whose operating model and culture are aligned with our own will provide significant opportunities for both clients and employees.”
Orbicon is a multidisciplinary engineering consulting firm within Environment, Supply & Infrastructure and Building, which is highly reputable for its innovative solutions within sustainability and climate adaptation. The firm, which has a growing Nordic presence with a strong position in the Arctic, has been involved in projects such as the environmental impact assessment for the Fehmarnbelt Tunnel, an immersed tunnel (once completed, the world's longest of its type for both road and rail) that will connect Denmark to Germany; and the engineering design of the UN City in Copenhagen, which has been awarded with the European Commission's Green Building Award for New Buildings and LEED's Platinum-certificate.
As one of the world's leading professional services firms, WSP provides engineering and design services to clients in the Transportation & Infrastructure, Property & Buildings, Environment, Power & Energy, Resources and Industry sectors, as well as offering strategic advisory services. Our experts include engineers, advisors, technicians, scientists, architects, planners, surveyors and environmental specialists, as well as other design, program and construction management professionals. With approximately 49,000 talented people globally, we are uniquely positioned to deliver successful and sustainable projects, wherever our clients need us. wsp.com
Certain information regarding WSP contained herein may constitute forward-looking statements. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. 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 forward-looking statements as well as a description of the relevant assumptions and risk factors likely to affect WSP's actual or projected results are included in the Management’s Discussion and Analysis for the year ended December 31, 2018, 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 WSP does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise unless expressly required by applicable securities laws.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
Senior Vice President, Investor Relations and Communications
WSP Global Inc.
Tel: (438) 843-7548
WSP in the Nordics
Tel: (46) 10-722-87-12