Acquisitions boost WSP revenues

Consultancy firm WSP Global has announced an increase in revenues following its recent acquisitions in the Americas.

The firm confirmed, as part of its third quarterly results, revenues and net revenues of $1.5bn and $1.2bn, up 138% and 109%, respectively, as a result of the acquisitions.

As reported in August, WSP Global agreed a deal to buy Montreal-based firm MMM Group, which has expertise in transportation, infrastructure, environment and buildings.

The following month, it also acquired Halvorson and Partners (H+P), a 40-person Chicago-based firm that provides structural engineering services for developers, private owners and institutions worldwide.

WSP has also announced adjusted EBITDA of $126.2m, up by 90% to $59.8m. Adjusted EBITDA margin now stands at 11.2% of net revenues.

"As we reach the milestone of one year since the Parsons Brinckerhoff acquisition, we are pleased with our third quarter results, which are consistent with our expectations and 2015 guidance," said Pierre Shoiry, WSP's president and chief executive officer.

"We continue to focus on increasing revenues stemming from our enhanced and diversified platform. The recent acquisition of MMM is consistent with this objective and we are pleased to welcome 2,000 new colleagues to the team.”