Canadian consultancy WSP has completed its high profile acquisition of Parsons Brinckerhoff.
WSP paid Balfour Beatty $1.3bn (£820M) for the firm, creating a consultancy with revenue of $4.8bn and 31,500 employees across 39 countries.
Parsons Brinckerhoff president and chief executive George J Pierson was appointed executive director of the new corporation.
He will remain at the helm of Parsons Brinckerhoff, while ensuring continuity and seamless integration into WSP.
WSP director Pierre Shoiry becomes president and chief executive officer of the new combined entity.
Shoiry said: “I am pleased with this acquisition, which reinforces our leadership position in the industry, with the ability to deliver more expertise and services to our client base across the world.
“We will now focus on merging our respective businesses and on generating revenue synergies, such as in the rail sector, where we see an opportunity to combine WSP’s expertise in above ground station and platform design, with Parsons Brinckerhoff’s expertise in tunnelling and underground technology; or in the aviation sector, where our expertise in land and air side are complementary.”
NCE reported earlier this week that Balfour Beatty shareholders had voted in favour of selling Parsons Brinckerhoff to WSP.