Creation of new world leader in the power & energy
sector
MONTRÉAL, Aug. 12,
2024 /CNW/ - CDPQ announced an investment of
$158 million in WSP Global Inc. (TSX:
WSP), a leading global professional services firm to enable its
acquisition of POWER Engineers, a major U.S. consulting firm
specialized in the power & energy industry.
This strategic acquisition, valued at $2,4 billion, will enable WSP to strengthen
its presence in the power & energy industry and, with the
addition of around 4,000 professionals specialized in the field, to
position itself at the head of global leaders in this
segment. The integration of POWER Engineers into the WSP
portfolio will complement its three other growing segments:
transportation and infrastructure, earth and environment, and
buildings.
"Through this investment, CDPQ is reaffirming its long-standing
commitment to WSP, allowing the company to carve out an influential
position in the global power & energy industry and contribute
to the transition under way," said Kim
Thomassin, Executive Vice-President and Head of Québec at
CDPQ. "It's in line with our strategy to support the international
expansion of companies solidly anchored in Québec and to foster
their sustainable growth."
"This acquisition places us at the front lines of the energy
transition. I would like to underscore CDPQ's trust and commitment
to our organization, as we plan to expand our scope and promote an
even more sustainable future around the world," said Alexandre
L'Heureux, President and Chief Executive Officer of WSP.
Since becoming a shareholder of WSP in 2011, CDPQ has supported
the company in its expansion plan. Today's announcement represents
the eighth investment financed by this institutional
investor, including numerous transformational acquisitions.
Following this transaction, CDPQ will remain the largest
shareholder of the company.
ABOUT CDPQ
At CDPQ, we invest constructively to generate sustainable
returns over the long term. As a global investment group managing
funds for public pension and insurance plans, CDPQ works alongside
its partners to build enterprises that drive performance and
progress. CDPQ is active in the major financial markets, private
equity, infrastructure, real estate and private debt. As at
December 31, 2023, CDPQ's net assets
totalled CAD 434 billion. For more
information, visit cdpq.com, consult our LinkedIn or
Instagram pages, or follow us on X.
CDPQ is a registered trademark owned by Caisse de dépôt et
placement du Québec and licensed for use by its
subsidiaries.
For more information
JEAN-BENOÎT
HOUDE
Director, Public Relations
+ 1 514-652-4344
jbhoude@cdpq.com
SOURCE CDPQ
