MONTREAL, April 05, 2023 (GLOBE NEWSWIRE) -- WSP Global Inc. (TSX: WSP) (“WSP” or the “Corporation”) announced today that it has entered into an agreement to acquire Calibre Professional Services One Pty Ltd (“Calibre”). Building on the acquisition of Golder in 2021, and in alignment with the Corporation’s 2022-2024 strategic action plan objectives, the transaction will enable WSP to further develop its leadership position in Australia as well as support major mining clients who are currently on a path to decarbonize their operations and infrastructure.
Calibre is a leading engineering services provider across the full asset life cycle, focused on rail, infrastructure, rehabilitation, and renewable projects supporting blue-chip mining clients. With a workforce of approximately 800 professionals, Calibre has offices in Perth, Sydney, Melbourne, and Brisbane.
The addition of Calibre and its mining advisory and consulting expertise will position WSP to seize significant opportunities related to mine closure and rehabilitation as well as water management. The combined platform will represent over 6,000 professionals across Australia, including over 1,000 experts in the resource sector, and significantly increase WSP’s presence in the Pilbara region and Western Australia.
“This transaction will further position WSP to play a leading role in assisting with the green transition of the mining industry in Australia and globally,” said Alexandre L’Heureux, WSP’s President and CEO. “Our combined business will further increase our technical capabilities and provide opportunities to serve as the partner of choice for mining companies with strong ESG commitments.”
The transaction is expected to close in the second quarter of 2023 and is subject to customary closing conditions, including obtaining approval from the Foreign Investment Review Board in Australia. WSP is acquiring Calibre for an aggregate consideration of AUD 275 million (CAD 250 million), payable upon closing of the acquisition.
“Together with Calibre, our ability to deliver services to help accelerate the energy transition and the decarbonization of the mining sector will be vastly enhanced,” said Guy Templeton, WSP’s President and CEO, Asia Pacific.
Adrian Chapman, Calibre’s Executive General Manager said: “Joining WSP will create a leading and highly technically capable firm, adding value to major projects beyond mine sites, and enabling us to bring WSP’s key ESG services to a wider client base.”
Calibre is a leading advisory and engineering services provider to the resources, railroad, renewables, and rehabilitation sectors in Australia, with a successful track record of over 20 years in the design and execution of AUD30bn+ in mining and resources infrastructure projects.
As one of the world’s leading professional services firms, WSP exists to future-proof our cities and environment. We provide strategic advisory, engineering, and design services to clients in the transportation, infrastructure, environment, building, energy, water, and mining sectors. Our 66,000 trusted professionals are united by the common purpose of creating positive, long-lasting impacts on the communities we serve through a culture of innovation, integrity, and inclusion. Sustainability and science permeate our work. In 2022, WSP derived more than half of its $11.9 B (CAD) revenues from services that support the UN Sustainable Development Goals. 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 laws. When used in this press release, the words “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “predict”, “forecast”, “project”, “intend”, “target”, “potential”, “continue” or the negative of these terms or terminology of a similar nature as they relate to the Corporation, an affiliate of the Corporation or the combined firm following the acquisition of Calibre, are intended to identify forward-looking statements. Forward-looking statements in this press release include, without limitation, those information and statements related to the proposed acquisition of Calibre, the attractiveness of the acquisition of Calibre; the strength, complementarity and compatibility of Calibre’s business with WSP’s existing business and teams; other anticipated benefits of acquisition of Calibre; WSP’s leadership position in its markets; and statements relating to the Corporation’s future growth, results of operations, performance business, prospects and opportunities, the anticipated timing of completion of the acquisition of Calibre and other statements that are not historical facts. Although the Corporation believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements since no assurance can be given that they will prove to be 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, including risks and uncertainties relating to WSP’s inability to successfully integrate the Calibre business upon completion of the transaction; the possible delay or failure to close the acquisition of Calibre; the potential failure to realize anticipated benefits from the acquisition of Calibre; WSP’s reliance upon information provided by Calibre in connection with the proposed transaction; potential undisclosed costs or liabilities associated with the acquisition of Calibre and other factors discussed or referred to in the “Risk Factors” section of WSP’s Management’s Discussion and Analysis for the year ended December 31, 2022 (the “MD&A”), which is available under WSP’s profile on SEDAR at www.sedar.com. The foregoing list is not exhaustive and other unknown or unpredictable factors could also have a material adverse effect on the performance or results of WSP.
Forward-looking statements made by the Corporation are based on a number of assumptions believed by the Corporation to be reasonable as at the date of this news release or MD&As, as applicable, including assumptions about the satisfaction of all closing conditions including obtaining regulatory approvals within the anticipated timeframe; WSP’s ability to achieve synergies and maintain market position arising from successful integration plans relating to the acquisition of Calibre; WSP’s ability to attract and retain key employees in connection with the Calibre acquisition; management’s estimates and expectations in relation to future economic and business conditions; the accuracy and completeness of disclosure by Calibre; and other factors discussed or referred to in the “Risk Factors” section of WSP’s MD&A, which is available under WSP’s profile on SEDAR at www.sedar.com. If any of these assumptions prove to be inaccurate, the Corporation’s actual results could differ materially from those expressed or implied in forward-looking statements.
WSP’s forward-looking statements are expressly qualified in their entirety by this cautionary statement. For additional information on this 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, reference is made to the MD&A, 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 except as required under applicable securities laws, WSP does not undertake to update or revise these forward-looking statements, whether written or verbal, that may be made from time to time by itself or on its behalf, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this press release are expressly qualified by these cautionary statements.
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