WSP to buy Schlumberger’s industrial water business

WSP to buy Schlumberger’s industrial water business

WSP Global Inc. has entered into an agreement to buy the industrial water consultancy business of Schlumberger, a global oilfield services company.

 

It is anticipated that the acquisition of the 250-employee business will enable WSP to bolster their offerings by providing water consulting services to industrial clients worldwide, as well as establishing a foothold for WSP in Chile and Peru. It will also enhance the company’s presence in a number of countries they currently operate in, including the Unites States, the United Kingdom, Colombia and Mexico.

 

Incoming President and Chief Executive Officer of WSP, Alexandre L'Heureux, commented: “The industrial water consultancy team will bring WSP an increased presence in the attractive global water market, more specifically, in the supply, management, control and environmental protection of water.

 

"This transaction, which will be financed using our available cash, is aligned with our growth strategy; not only are we deepening our expertise in the industrial water sector, but we are strengthening our presence in South America, a region we are targeting in our 2015-2018 strategic plan. We look forward to welcoming all new employees from this division."

 

Adding to L’Heureux’s comments, Business Manager of Schlumberger, John McCartney, said: "We are pleased about the prospect of joining WSP as our operations are complementary, and expect to create new career opportunities for our employees and our clients.

 

"Upon closing, we anticipate playing an active role in the development and growth of WSP's multi-disciplinary group in South America and to offer a wide range of additional services to our clients around the world."

 

The transaction is expected to close in Q3 of 2016 and is subject to customary closing conditions.

Check out our Water Jobs

 

Please rate

Comments 

Name
Email
  Ctrl + Enter

Most Read

Costain to pave the way for UK’s first electric motorway

Costain to pave the way for UK’s first electric motorway

The consortium has proposed an ‘electric road system’, using the Siemens Mobility ‘eHighway’ technology, as the fastest, lowest carbon and most cost-effective route to decarbonising our road freight industry and delivering cleaner air.   It

UK employers struggle with worst labour shortage since 1997

UK employers struggle with worst labour shortage since 1997

  Britain’s employers are struggling with the worst staff shortages since the late 1990s, amid the rush to reopen from lockdown and a sharp drop in overseas workers due to Covid and Brexit.   Sounding the alarm over the risks to economic recovery from acute labour shortages,

7 companies appointed to Scottish Water’s wastewater portfolio

7 companies appointed to Scottish Water’s wastewater portfolio

Scottish Water forecasts to spend £1bn a year on thousands of miles of water pipes, sewer networks, treatment works and other assets to ensure they continue to play a vital role in the daily lives of five million people.   The programme of work will help to deliver net zero

This website uses cookies to enhance your user experience. By continuing to use this site, you consent to our use of these cookies. See our Cookie Policy.