WSP to Acquire Golder Associates
Golder Associates parent company, Enterra Holdings Ltd. announced that it has entered into a definitive agreement with a wholly owned subsidiary of WSP Global Inc., pursuant to which WSP will acquire Golder by way of a plan of arrangement under the Companies Act (Nova Scotia) for aggregate consideration of $1.14 Billion (USD).
“Over the last 60 years, Golder has been on a journey where we have built one of the most successful and respected brands in the industry. Combining Golder’s industry-leading expertise with WSP’s impressive world-class platform and highly complementary services will provide long-term benefits for our people and help create greater value for our clients,” said Dr. Hisham Mahmoud, global president and CEO of Golder. “This view is echoed and confirmed by the overwhelming support of our Partners for the transaction. I believe that the compatible cultures and values of WSP and Golder will facilitate a successful integration.”
The Transaction is expected to close in the first half of 2021, subject to obtaining the final approval of the Supreme Court of Nova Scotia, the approval of the Golder shareholders, certain regulatory approvals and satisfaction or waiver of customary closing conditions.
“Together we will create the leading global environmental consulting firm with approximately 14,000 of our 54,000 professionals dedicated to accelerating the world’s green transition. The combination ideally positions WSP to capitalize on the rapidly growing ESG trends driving demand for environmental services and sustainable infrastructure development”, said Alexandre L’Heureux, president and CEO of WSP. “WSP looks forward to welcoming Golder’s employees and joining forces with such a well-respected environmental consulting brand. Golder is a global leader in earth sciences and environmental services. This acquisition directly contributes to the realization of the goals we laid out in our 2019-2021 Global Strategic Plan and is expected to contribute to both strategic growth and value creation for many years to come. Furthermore, the strategic relationships with GIC and BCI mark another important milestone for WSP to actively continue our acquisition strategy.”
