By Eileen Houlihan, senior writer/editor, ARTBA
WSP Global Inc. announced July 30 it would acquire Berger Group Holdings, Inc., the parent company of Louis Berger, in a $400 million deal that should close by the end of the year. The acquisition will add to WSP’s U.S. Transportation & Infrastructure and Environment & Water sectors, the company said in a statement. WSP and Louis Berger are ARTBA members.
“We will focus on integrating U.S. operations and other regions that have proven to be drivers of growth, while pursuing the international restructuring,” WSP President and CEO Alexandre L’Heureu said. The restructuring of Louis Berger’s international operations is expected to lead WSP to incur approximately $50 million in one-time integration and restructuring costs in the coming years, the company said. Jim Stamatis, CEO of Louis Berger, added, “I am very pleased about the prospect of joining WSP, as our values and strategies are aligned and our operations are complementary. This will create new opportunities for our employees and clients.”
Louis Berger’s portfolio includes some of the most iconic U.S. landmarks, including the Lincoln Memorial Reflecting Pool, Statue of Liberty, George Washington Bridge and World Trade Center.