WSP has concluded a deal to acquire TPS, a French company specializing in building and infrastructure engineering.

WSP has signed an agreement to acquire Technip TPS S.A.S., the French subsidiary of Technip S.A. The acquisition of TPS, which specializes in building and infrastructure engineering, will add 100 employees to WSP's existing workforce in France. In 2013, TPS posted EUR20 million in revenues (approximately CDN$30 million).

The acquisition, which remains subject to certain usual closing conditions, is scheduled to take effect on or around April 30, 2014. Following the closing of the transaction, Éric Falleur, currently President of TPS, will continue to head the operations of the subsidiary in France. As a result of the transaction, WSP will have 150 employees in France, based in Paris, Lyon, Toulouse and Grenoble, since the Company already has a team of 50 people working in the infrastructure, hydraulics, environmental and building segments.

Pierre Shoiry, President and CEO of WSP commented:

"We are very pleased to welcome the TPS team, whose profile meshes perfectly with our growth strategy, not only by boosting our presence in France but also by enhancing our expertise in the industrial and building sectors worldwide. TPS has solid skills when it comes to designing and carrying out major initiatives and has worked on projects such as the national library in Paris (Bibliothèque de France) and Airbus's A380 assembly plant in Toulouse."  

"TPS's international reputation, particularly in the aeronautics and health sectors in Middle East and Asia, will enable us to pursue our growth strategy and to maximize WSP's worldwide network for our French clientele." 

"We are proud to be joining WSP. This transaction will contribute to the achievement of TPS's strategic goals and offers a solid foundation for continued growth in France and around the world. Since our operations are complementary, this will create new opportunities for our employees and our clients," said Éric Falleur, President of TPS. "Thanks to this transaction, we will be able to play an active role in the development and growth of WSP's multi-disciplinary group in France and to offer a wide range of additional services to our clients around the world."

Founded in 1989, TPS was created by Technip, a European engineering leader, in order to provide its clients with high-quality engineering services in the building and infrastructure sector. The firm is headquartered in Paris and with offices in Lyons, Toulouse and Abu Dhabi,

With approximately 15,000 employees, including engineers, technicians, scientists and other design professionals, as well as various environmental experts, WSP is one of the world's leading professional services firms operating from more than 300 offices, across 30 countries.