WSP Global Inc. (TSX: WSP) (“WSP” or the “Corporation”) is pleased
to announce that it has acquired kW Mission Critical Engineering
(“kW MCE”), a leading 175-employee engineering firm based in Troy,
New York serving the data center market. WSP is also pleased to
announce the acquisition of tk1sc, a 240-employee mechanical,
electrical and plumbing engineering firm based in Irvine,
California. Both transactions will further consolidate WSP’s
Property and Buildings business in the complex data center,
healthcare, and science and technology markets in the United
States.
“Welcoming kW Mission Critical Engineering and
tk1sc into the WSP family further expands our building sector
capabilities in the high growth data center, healthcare and science
+ technology markets in the United States while also significantly
increasing our presence on the West Coast and providing us a
platform to expand our data center capabilities in Europe and
Asia,” commented Alexandre L’Heureux, WSP’s President and Chief
Executive Officer. “In line with our 2019-2021 Global Strategic
Plan, these acquisitions solidify our already strong presence in
these complex markets, which will now represent in excess of 65% of
our Property and Buildings practice in the United States.”
The acquisitions reflect WSP’s focus on growing
markets that will continue to have a profound impact on our society
globally. Demands for healthcare, science + technology, and data
center facilities have been on an upward trajectory for many years.
The positive outlook for the data center market has been
accelerated as a result of the pandemic, with business closures and
stay-at-home orders around the world fueling an increase in
streaming services, digital communication and workplace
coordination technologies, among others.
“We have been committed to growing these complex
markets for several years, resulting in our position as the largest
engineering firm in the United States serving healthcare clients
and the second largest in laboratory facilities,” said Lou Cornell,
President and CEO of WSP USA. “Adding tk1sc solidifies our
leadership in both of these markets, while adding kW Mission
Critical Engineering will place us in the top five engineering
firms serving data center clients.”
Commenting on the transaction, kW MCE
co-founders Chris Kurkjian and James Warren said: “Combining our
mission critical expertise with WSP’s global footprint will allow
us to continue our growth plan, offer opportunities to our
employees, and better support the expansion goals of our partners
and clients.”
Also commenting on the transaction in a joint
statement, tk1sc CEO Roger Carter and CFO Ray Swartz said,
“Becoming a member of WSP is great news for our company and
employees. By joining WSP, we will be able to provide additional
opportunities for employees to grow, expand our client base and
play a key role in further developing WSP’s building sector on the
West Coast.”
ABOUT KW MISSION CRITICAL
ENGINEERINGLaunched in 2012, kW MCE is dedicated to
engineering data centers and buildings with a continuous uptime
requirement. The high-performance consulting firm offers
comprehensive mechanical, electrical, plumbing, fire protection,
controls, telecommunications, and security system design for
buildings that operate 7x24xforever. From strategic campus master
planning, to specialized system design, and multi-phase building
assessments, kW MCE provides expertise on critical power and
cooling infrastructure decisions to meet clients’ operational
demands—all with an emphasis on budget, schedule, and risk.
ABOUT tk1sctk1sc, headquartered
in Southern California, is a multi-discipline professional
engineering firm with over 240 employees that for the past 40 years
has been an integral part of shaping the built environment in the
Western United States. Working collaboratively with industry
partners, tk1sc is a leader at providing innovative,
environmentally appropriate design solutions for technical
challenges across a large variety of building types and market
sectors. The wide-ranging engineering services that tk1sc provides
include mechanical, electrical, plumbing, technology, fire
protection, security, lighting, commissioning and energy and
sustainability. This comprehensive mix of services allows tk1sc to
maximize performance of building systems and indoor environmental
quality while minimizing the effect on the environment by
conserving energy and water.
ABOUT WSPAs one of the world’s
leading professional services firms, WSP provides engineering and
design services to clients in the Transportation &
Infrastructure, Property & Buildings, Environment, Power &
Energy, Resources and Industry sectors, as well as offering
strategic advisory services. WSP's global experts include
engineers, advisors, technicians, scientists, architects, planners,
environmental specialists and surveyors, in addition to other
design, program and construction management professionals. Our
talented people are well positioned to deliver successful and
sustainable projects, wherever clients need us. For more
information about WSP, please visit wsp.com.
FORWARD-LOOKING
STATEMENTSCertain information regarding WSP contained
herein may constitute forward-looking statements. Forward-looking
statements may include estimates, plans, objectives, expectations,
opinions, forecasts, projections, guidance, outlook or other
statements that are not statements of fact, including statements
regarding the sufficiency of WSP’s liquidity and working capital
requirements for the foreseeable future. Forward-looking statements
made by the Corporation in this press release are based on a number
of assumptions believed by the Corporation to be reasonable as at
January 27, 2021, including assumptions about general economic and
political conditions; the state of the global economy and the
economies of the regions in which the Corporation operates; the
state of and access to global and local capital and credit markets;
the anticipated impacts of the COVID-19 pandemic on the
Corporation’s businesses, operating results, cash flows and/or
financial condition, including the effect of measures implemented
as a result of the COVID-19 pandemic.
Although WSP believes that the expectations
reflected in such forward-looking statements are reasonable, it can
give no assurance that such expectations will prove to have been
correct. These statements are subject to certain risks and
uncertainties and may be based on assumptions that could cause
actual results to differ materially from those anticipated or
implied in the forward-looking statements, including risks relating
to the COVID-19 pandemic. WSP's forward-looking statements are
expressly qualified in their entirety by this cautionary statement.
The complete version of the cautionary note regarding
forward-looking statements risk factors, which, if realized, could
cause the Corporation's actual results to differ materially from
those expressed or implied in forward-looking statements, are
included in the amended Management’s Discussion and Analysis for
the year ended December 31, 2019 and the Management’s Discussion
and Analysis for the quarter ended September 26, 2020, which
are available on SEDAR at www.sedar.com. The forward-looking
statements contained in this press release are made as of the date
hereof and WSP does not assume any obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise unless expressly required
by applicable securities laws.
FOR ADDITIONAL INFORMATION, PLEASE
CONTACT:Alain MichaudChief Financial
OfficerWSP Global Inc.alain.michaud@wsp.comPhone: 438-843-7317
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