{"id":33679,"date":"2025-12-19T23:08:12","date_gmt":"2025-12-20T07:08:12","guid":{"rendered":"https:\/\/essential.construction\/news\/wsp-buys-power-infrastructure-firm-in-latest-ma-move\/"},"modified":"2025-12-19T23:08:12","modified_gmt":"2025-12-20T07:08:12","slug":"wsp-buys-power-infrastructure-firm-in-latest-ma-move","status":"publish","type":"post","link":"https:\/\/essential.construction\/news\/wsp-buys-power-infrastructure-firm-in-latest-ma-move\/","title":{"rendered":"WSP buys power infrastructure firm in latest M&#038;A move"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"text-to-speech\">\n    <button class=\"text-to-speech__button button\"><br \/>\n        <img decoding=\"async\" class=\"text-to-speech__button__icon\" src=\"https:\/\/www.constructiondive.com\/static\/img\/play.svg?500116090725\" alt=\"-\"><br \/>\n        Listen to the article<br \/>\n        <span class=\"text-to-speech__button__audio-length\">3 min<\/span><br \/>\n    <\/button><\/p>\n<div class=\"text-to-speech__controls\">\n        <audio controls=\"\" class=\"js-text-to-speech\" preload=\"none\"><source src=\"https:\/\/text-to-speech.divecdn.com\/newspost\/808440\/2025-12-19_16.34.17\/wsp-buys-power-energy-contractor-trc.wav\" type=\"audio\/mp3\"><\/source><\/audio><\/p>\n<div class=\"text-to-speech__controls__text\">\n            This audio is auto-generated. Please let us know if you have <a rel=\"nofollow noopener\" href=\"https:\/\/www.constructiondive.com\/contact\/\" target=\"_blank\">feedback<\/a>.\n        <\/div>\n<\/p><\/div>\n<\/div>\n<h3 class=\"standard-heading\"><span><span><span><span><span>Dive Brief:<\/span><\/span><\/span><\/span><\/span><\/h3>\n<ul>\n<li><span><span><span><span><span><span>To cap off an M&amp;A news-heavy 2025,\u00a0 Montreal-based WSP has <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/www.wsp.com\/en-us\/news\/2025\/wsp-to-acquire-trc-supercharging-its-leading-position-in-the-power-energy-sector\" target=\"_blank\"><span><span><span><span><span><span><span><span>made a deal to purchase TRC Companies<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span>, a U.S.-based power and energy contractor, for a $3.3 billion cash purchase price, according to a Dec. 15 news release.<\/span><\/span><\/span><\/span><\/span><\/span><\/li>\n<li><span><span><span><span><span><span>The move will help WSP expand its performance in key markets and expand its relationships with clients, while also leveraging the approximately 8,000 employees at Windsor, Connecticut-based TRC to provide long-term value for customers facing complex infrastructure and energy challenges, WSP said.<\/span><\/span><\/span><\/span><\/span><\/span><\/li>\n<li><span><span><span><span><span><span>\u201cWith TRC&#8217;s highly complementary expertise in power delivery, transmission, distribution, and advisory services, our combined offering will cover the entire utility and infrastructure value chain,\u201d said Alexandre L\u2019Heureux, WSP\u2019s CEO, in the news release.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/li>\n<\/ul>\n<h3 class=\"standard-heading\"><span><span><span><span><span>Dive Insight:<\/span><\/span><\/span><\/span><\/span><\/h3>\n<p><span><span><span><span><span><span>The deal itself is funded via a $732 million bought deal public offering of common shares at $232.80 per each share, and approximately $118 million private placement of common shares at the offer price to La Caisse, the province-managed investment firm of Qu\u00e9bec.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Meanwhile, Canadian Imperial Bank of Commerce and JP Morgan Chase Bank, N.A. will act as co-lead arrangers and joint bookrunners, per the announcement. Both banks have provided commitments for $3.3 billion in senior unsecured non-revolving term loans.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cThe joining of our two firms will create significant and exciting opportunities for our people, our clients and the communities in which we live and work,\u201d Christopher Vincze, TRC\u2019s CEO, said in the news release. \u201cWith TRC\u2019s innovative, technology-oriented power business, underscored by an advanced use of digital, we will significantly strengthen WSP\u2019s Power &amp; Energy offering.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>For observers in the construction industry, the move isn\u2019t shocking \u2014 WSP has a <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/www.constructiondive.com\/news\/wsp-earnings-mergers-acquisitions-tariffs\/747634\/\" target=\"_blank\"><span><span><span><span><span><span><span><span>history of aggressive M&amp;A action<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span>, and made news in October for its <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/www.constructiondive.com\/news\/wsp-jacobs-merger-deal-report\/803913\/\" target=\"_blank\"><span><span><span><span><span><span><span><span>rumored offer to buy Dallas-based Jacobs<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span>, another large player in the construction industry.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>To that point, other acquisitions that WSP has completed in the past year include <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/www.wsp.com\/en-gb\/news\/2025\/wsp-completes-acquisition-of-ricardo-plc-a-global-strategic-and-engineering-consultancy-firm\" target=\"_blank\"><span><span><span><span><span><span><span><span>Ricardo<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span>, a U.K.-based engineering consultancy, also in October, and <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/www.wsp.com\/en-gb\/news\/2025\/wsp-acquires-specialist-healthcare-and-life-sciences-consulting-firm-lexica\" target=\"_blank\"><span><span><span><span><span><span><span><span>life sciences consulting firm Lexica<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span> in June.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>M&amp;A is key to the company\u2019s strategy, and L\u2019Heureux said as much during the company\u2019s Q3 earnings call on Nov. 6.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>\u201cI do not think anyone should be surprised because I am probably the biggest supporter and avid supporter of consolidation in our industry,\u201d L\u2019Heureux said in <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/www.constructiondive.com\/news\/wsp-q3-earnings-merger-acquisition-shutdown-rumor\/804984\/\" target=\"_blank\"><span><span><span><span><span><span><span><span>reference to the M&amp;A rumors<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span>. \u201cI am not surprised that our name is being thrown around with possible rumors. Obviously, I am not going to comment on those rumors. I was a big proponent of our model 10 years ago, and I continue to be.\u201d<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.constructiondive.com\/news\/wsp-buys-power-energy-contractor-trc\/808440\/\" rel=\"nofollow noopener\" target=\"_blank\">This article was originally posted at Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Listen to the article 3 min This audio is auto-generated. Please let us know if you have feedback. Dive &#8230; <a title=\"WSP buys power infrastructure firm in latest M&#038;A move\" class=\"read-more\" href=\"https:\/\/essential.construction\/news\/wsp-buys-power-infrastructure-firm-in-latest-ma-move\/\" aria-label=\"Read more about WSP buys power infrastructure firm in latest M&#038;A move\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[457],"tags":[],"class_list":["post-33679","post","type-post","status-publish","format-standard","hentry","category-construction-dive","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts\/33679","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/comments?post=33679"}],"version-history":[{"count":0,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts\/33679\/revisions"}],"wp:attachment":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/media?parent=33679"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/categories?post=33679"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/tags?post=33679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}