Engineer expands into programme, project and cost management
Consultant WSP has agreed a deal to buy its rival Sweett for 拢24m.
The firm said Sweett was an attractive acquisition as it will add a broader offering to WSP鈥檚 clients and 鈥渁chieve growth of a strong programme, project and cost management capability.鈥�
It also said that Sweett will add 鈥渇urther scale and management strength鈥� to WSP in the UK and Europe and provides an opportunity to 鈥済row the range of advsiory skills鈥� at the consultant.
Commenting on the acquisition, Sweett chief executive Douglas McCormick, said: 鈥淚 believe this transaction will provide Sweett, our staff and our clients with enhanced opportunities and the combined entity will achieve increased prominence in the global markets in which we work.
鈥淏y joining WSP, this will provide the company with a stronger platform, both operationally and financially, for growth in the years ahead.鈥�
Alexandre L鈥橦eureux, CFO and incoming president and CEO of WSP, said: 鈥淭his transaction fulfills our strategic ambitions of enhancing our project and cost management services and positions our combined group as a leading global consultancy.
鈥淲SP and Sweett operate a similar business model of global knowhow, local delivery and are highly compatible in terms of strategic objectives, being both pure play consulting firms.鈥�
No comments yet