WSP Global Makes Massive Investment Into Expanding Environmental Services With Major Acquisition Of Golder
Civil engineering giant, WSP Global, announced on December 3rd that it has entered into an agreement to acquire engineering and consulting firm Golder Associates for $1.14 billion. The acquisition is expected to be completed in the first half of the second quarter of 2021 and will greatly expand WSP’s environmental capabilities. In 2020, WSP’s environmental sector accounted for 25% of WSP’s total annual revenues of $8 billion. With this acquisition, Golder’s environmentally focused portfolio will serve to expand WSP’s environmental and green solution service offering.
WSP has stated that once this deal has closed 14,000 of WSP’s 54,000 employees will be focused on developing and delivering green solutions. Golder was an enticing acquisition option for WSP as the firm has proven itself to be an environmental and engineering leader in the mining and heavy industries. Additionally, the latest Verdantix Green Quadrant positioned Golder as a leader amongst EHS service firms in leveraging digital technology in its environmental services. WSP can look to leverage Golder’s proprietary environmental software, edge technology experience and 900-employee strong digital centre of excellence.
WSP decision to acquire Golder was partly driven by its desire to be strategically positioned to capitalize on the growing interest and demand in Environmental Social and Governance (ESG) and sustainable development services. As highlighted in a recent Verdantix blog post, from 2021 onwards firms around the world will need to invest in new information management systems, internal controls and external service providers to ensure their ESG-focused strategies are aligned with ESG standards. In turn this will shine a light on the sustainability features of any underlying infrastructure and assets the businesses depend on. WSP’s acquisition of Golder will undoubtably expand their environmental and technology implementation services across an increasing global footprint to serve as a strong positioning piece to get in front of the increasing focus on ESG-related services.