Cdpq Targets Wsp Energy Growth With Acquisition Cash

CDPQ invests $158 million in WSP Global to create a new world leader in the power energy sector

Investment will help WSP Global acquire Power Engineers, a leading US-based provider of engineering and consulting services to the power industry

Montréal, December 12, 2024 – Caisse de dépôt et placement du Québec (CDPQ), a global investment group, today announced an investment of $158 million in WSP Global Inc. (WSP), a leading provider of engineering and consulting services. The investment will help WSP Global acquire Power Engineers, a leading US-based provider of engineering and consulting services to the power industry.

The acquisition of Power Engineers will create a new world leader in the power energy sector, with combined revenues of over $10 billion and a global workforce of over 60,000 employees. The combined company will be well-positioned to meet the growing demand for clean energy solutions, as well as the need for infrastructure renewal and modernization.

"We are very pleased to support WSP Global in this strategic acquisition," said Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure at CDPQ. "The combination of WSP Global and Power Engineers will create a global leader in the power energy sector, with the scale and expertise to meet the growing demand for sustainable energy solutions."

"This investment is a testament to the strength of WSP Global's business and its management team," said Alexandre L'Heureux, President and CEO of WSP Global. "The acquisition of Power Engineers will allow us to expand our global reach and service offering, and to better meet the needs of our clients in the power energy sector."