WSP Global Inc. announced that it has completed its acquisition of MMM Group Ltd. MMM, which has approximately 2,000 employees, is one of the largest privately-owned engineering consulting companies in Canada.The purchase price was approximately $425 million.
“I am delighted about this acquisition and that our two firms are joining forces,” said David Ackert, President and Chief Executive Officer of WSP in Canada. “The coming together of these two like-minded firms will enable us to pursue our growth strategy and strengthen our foundation across Canada by increasing our ability to deliver superior value to our clients, shareholders and employees.”
“We are pleased that our shareholders have expressed overwhelming support for this acquisition. On behalf of MMM’s Board and management, I would like to thank them for their invaluable support throughout this process,” said Hugo Blasutta, Chief Executive Officer of MMM. “As we join WSP, a firm with similar values to MMM and a complementary business model, we will have an opportunity to continue our journey of growth. We also look forward to providing additional value for our employees and clients through our enhanced expertise and expanded network.”
Founded in 1957, MMM is a multidisciplinary consulting firm creating vibrant and healthy communities through innovative planning, engineering, geomatics and project management services. WSP, through its acquisition of Parsons Brinckerhoff, is one of the world’s leading professional services firms in its industry, working with governments, businesses, architects and planners and providing integrated solutions across many disciplines. It has about 34,000 employees across 40 countries and 5 continents.