WSP to buy Colombia construction firm ConCol, expanding Latin America business
by Canadian Manufacturing.com Staff
The Bogota-based company has offices in five countries and employs approximately 1,000 workers
MONTREAL—Canada’s WSP Global Inc. has acquired a 1,000-person engineering and construction firm based in Colombia.
WSP said the deal for Consultoría Colombiana SA, or ConCol, will help fuel its expansion in Latin America, particularly in the power, transportation and oil and gas industries.
The financial terms of the deal were not disclosed.
“As positive economic data continues to emerge from the Latin American economy, we are confident this transaction will support our plan to be a top tier player in each geography and sector where we operate,” Alexandre L’Heureux, the company’s president and CEO, said in a statement.
The deal gives the Montreal-based firm, which has grown rapidly in recent years through acquisitions, 2,500 workers across Latin America. Along with Colombia, ConCol has offices in Peru, Chile, Panama and Mexico.
WSP said it wil finance the deal using its available cash and credit facilities.
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