WSP Global on the hunt for big companies as acquisitions climb the to-do list
MONTREAL — The head of WSP Global Inc. says it's eyeing larger acquisitions once again after a period of consolidation and smaller purchases.
Following a spate of takeovers, CEO Alexandre L’Heureux says the engineering company worked to scrap digital barriers between offices scattered across some 60 countries.
He says three-quarters of the firm now operates on a single software platform, reducing inefficiencies that emerged as 15 companies came under the WSP umbrella over the past two-and-a-half years.
The buying streak included four consulting firms bolted onto the firm in 2024, adding more than 800 employees for a total headcount of 69,300.
But the latest acquisitions were small compared with some earlier tie-ups, leaving the Montreal-based company ready for bigger fare amid a 22 per cent year-over-year boost in profit last quarter.
L’Heureux sees the opportunities for growth in continental Europe, Australia and the United States — where he says the outcome of a presidential election later this year will have little bearing on WSP's prospects.
This report by The Canadian Press was first published July 31, 2024.
Companies in this story: (TSX:WSP)
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