BY KATE WUTZ

POWER Engineers, Inc., and WSP Global Inc., a leading global professional consulting firm, have closed their transaction, joining forces to become one of the world’s leaders in the energy transition.   

“We are incredibly excited by the opportunities moving forward and can’t wait to start working together,” said Holger Peller, POWER’s President and Chief Operating Officer. “Together, we’ll be able to offer our clients an even broader range of professional services to facilitate their energy transition thanks to our enhanced capabilities.

“Our team members will have opportunities to discover and contribute to a variety of amazing projects with colleagues around the world and develop their careers in ways they might not have thought possible. It’s truly a new chapter in POWER’s story.”  

The transaction significantly expands WSP’s global Power & Energy sector, which will be led Peller. POWER Chief Executive Officer Jim Haynes will remain as an advisor to help with the transition. 

There are currently no plans to close the Hailey office where POWER began its journey. No job cuts or other changes are expected in Idaho. The company is owned by 900 employee shareholders. Ninety-five percent voted in favor of the deal.

The company has nearly 700 employees in the state and about 4,000 in 50 offices across North America. Its local clients include Micron and Idaho Power.

“Today, we celebrate the start of an exciting new era for WSP and POWER as our teams join forces to create the leading consulting firm for the world’s energy transition. This milestone completes our strategic vision of expanding our capabilities in the Power & Energy sector by 2024 and unlocks a world of possibilities for our people, clients and communities,” said Alexandre L’Heureux, President and Chief Executive Officer of WSP Global.   

“Our focus now shifts to ensuring a seamless and collaborative integration that will enable us to harness the full potential of our strengthened capabilities. Our many commonalities, including our passion for innovation, dedication to technical excellence, and empowering culture, already provide a solid foundation for success. We are eager to welcome our new colleagues and have full confidence in our ability to drive accelerated and sustainable growth as we define the future of Power & Energy at WSP together,” he added.  

The transaction was first announced on August 12, when POWER and WSP entered into a merger agreement. The merger was approved by POWER shareholders on Sept. 6. POWER has been an employee-owned company since 1998, when ownership transitioned from the original founders. WSP has roots as an employee-owned firm before it became a publicly traded company in 2006. Before this transaction, WSP employed more than 69,300 people globally in sectors spanning transportation, infrastructure, environment, building, energy, water, and mining. 

AEC Advisors acted as the exclusive financial advisor to POWER on the transaction. Katten Muchin Rosenman LLP served as POWER’s legal advisor.