WSP Global signs agreement to acquire power and energy company TRC

Canada based WSP Global has signed an statement to get TRC Companies, a US-based powerfulness and vigor institution providing end-to-end infrastructure beingness rhythm solutions.

TRC, which is bulk owned by Warburg Pincus managed funds, is an engineering, consulting, and advisory institution specialising successful powerfulness and energy, utilities, biology services, and programme management.

The all-cash woody is valued astatine $3.3bn and is anticipated to adjacent successful the archetypal 4th of (Q1) of 2026, contingent upon regulatory approvals and customary closing conditions.

This acquisition volition importantly heighten WSP’s powerfulness and vigor capabilities and broaden its expertise crossed water, infrastructure, and biology services.

The woody comes astatine a clip erstwhile US powerfulness depletion is surging, fuelled by rising request from AI-focused information centres and cryptocurrency mining.

With the summation of TRC, WSP volition person astir 27,000 employees successful the US, accounting for 34% of its US revenue.

The acquisition is projected to adhd low- to mid-single digit percent to WSP's adjusted nett net per stock earlier synergies.

WSP president and main enforcement serviceman Alexandre L’Heureux said: “The projected Acquisition of TRC is simply a defining infinitesimal successful the execution of WSP’s 2025-2027 Strategic Plan. Building connected our way grounds of excellence and compounding fiscal performance, this strategical determination volition cement WSP arsenic the powerfulness and vigor consulting person successful the US and globally.

“Joining forces volition presumption our concern for accelerated integrated maturation and make an integrated level with industry-leading capabilities successful advisory, engineering, and programme management.

“With TRC's highly complementary expertise successful powerfulness delivery, transmission, distribution, and advisory services, our combined offering volition screen the full inferior and infrastructure worth chain. Together, we are poised to present much analyzable projects and connection expanded end-to-end services to assistance lick our clients’ captious needs, from ageing infrastructure to grid modernisation and electrification.”

J.P. Morgan and CIBC Capital Markets are serving arsenic WSP’s fiscal advisors for the acquisition, with ineligible counsel provided by Skadden, Arps, Slate, Meagher & Flom successful the US and Stikeman Elliott successful Canada.

Harris Williams, UBS Investment Bank, AEC Advisors, and Houlihan Lokey are serving arsenic TRC’s fiscal advisors for the acquisition, with ineligible counsel provided by Paul, Weiss, Rifkind, Wharton & Garrison.

In August 2024, WSP agreed to get Power Engineers, a US-based consultancy successful the powerfulness and vigor sector.