Engineering firm WSP buys Nordic services provider Faveo
Montreal-based engineering consulting firm continues global growth
MONTREAL—Montreal engineering consulting firm WSP Global is continuing its push into the Nordic countries with the acquisition of the Faveo Group. The project management firm, based in Norway and Sweden, provides specialist services in the areas of infrastructure and energy. This acquisition adds 400 employees to WSP’s workforce in the Nordic countries.
“We are pleased to welcome Faveo as a business partner. This transaction, which fits perfectly with our growth strategy, will provide a strong entry-point in the Norwegian market, while strengthening our position in Sweden,” Magnus Meyer, managing director of WSP in the Nordic countries, said. “It will also position us as a project management leader in Sweden, with more than 1,200 employees specialized in project management services and qualified advisory services”.
Earlier in the month, WSP had also acquired FLK Sverige AB, a 50-employee Swedish firm specializing in mechanical engineering and Vicicom AB, a 35-employee firm specializing in the development of broadband and telecommunications networks for municipalities and operators, also based in Sweden. With the acquisitions of Faveo, FLK and Vicicom, WSP’s total workforce in the Nordic countries is now 3,800 people.
With its acquisition of Parsons Brinckerhoff last year, WSP has positioned itself as one of the world’s leading professional services firms in its industry, working with governments, businesses, architects and planners and providing integrated solutions across many disciplines.