MONTREAL, Aug. 07, 2023 (GLOBE NEWSWIRE) -- WSP Global Inc. (TSX: WSP) ("WSP" or the "Corporation") announces today that it has sold Louis Berger Services Inc. ("LBS") to Versar Inc. ("Versar"), a global engineering, environmental, and security services company. LBS specializes in operations and maintenance services for complex infrastructure assets at mission-essential defense and civilian facilities worldwide and currently employs approximately 1,400 people.
"Acquired by WSP as part of the Louis Berger transaction in 2018, LBS has an impressive team and track record. We are pleased to have reached this agreement with Versar and are confident this transaction will ensure the long-term success of the LBS business," said Alexandre L'Heureux, WSP's President and CEO. "I would like to thank all LBS employees for their commitment, professionalism, and contributions to WSP, and I wish them continued success with Versar."
"Versar is thrilled to welcome every LBS employee to the Versar team," said Jim Jaska, Versar's CEO. "Our complementary service offerings will allow us to leverage each other's customers and capabilities to grow our business to compete globally while maintaining our exceptional dedication to one-on-one customer service."
ABOUT LOUIS BERGER SERVICES
Louis Berger Services Inc. ("LBS") specializes in operation and maintenance services at large, mission-essential defense installations and civilian facilities worldwide. As a trusted partner to federal government agencies, LBS provides expertise in aerial port operations, contingency logistics and ground support services, as well as heavy vehicle maintenance for defense and security customers. LBS also provides industry-leading transportation asset maintenance services to state and local customers across the United States. It is LBS's mission and an honor to help clients solve their most complex challenges.
ABOUT VERSAR
Versar, Inc., a portfolio company of Kingswood Capital Management, is a global engineering, environmental, and security services company delivering high value solutions to vital programs in the natural, built, and digital environments. Versar is headquartered in Washington, D.C. and has three operating segments including Environment and Sustainability, National Security, and Installation Management and Support Services. For more information, please refer to Versar's website at www.versar.com.
ABOUT WSP
As one of the largest professional services firms in the world, WSP exists to future-proof our cities and our environment. It provides strategic advisory, engineering, and design services to clients seeking sustainable solutions in the transportation, infrastructure, environment, building, energy, water, and mining sectors. Its 68,000 trusted professionals are united by the common purpose of creating positive, long-lasting impacts on the communities it serves through a culture of innovation, integrity, and inclusion. In 2022, WSP reported $11.9 B (CAD) in revenue. The Corporation's shares are listed on the Toronto Stock Exchange (TSX: WSP).
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
Alain Michaud
Chief Financial Officer
WSP Global Inc.
Phone: 438-843-7317
alain.michaud@wsp.com
