Consultant WSP’s merger with Canadian consultant Genivar was finalised today creating one firm with over £1bn in revenues.
Genivar is paying shareholders in WSP 435p per share, valuing the firm at £278M. However, the takeover is being treated as a merger internally.
The new firm will trade as WSP Genivar with combined revenues of £1.1bn and around 14,500 employers spread across over 300 offices in every continent.
Following the merger, the new firm hopes to build on WSP’s strong position in high rise buildings, bridge and rail infrastructure, with Genivar’s experience in mining, natural resources and energy.
Until operational and financial integration is completed, both firms will continue to operate under their respective brand.
- For more on this story see next week’s NCE, published 9 August.