WSP increases its global and UK presence with the acquisition of Parsons Brinckerhoff
On Wednesday (September 3) Balfour Beatty agreed to sell their professional services division Parsons Brinckerhoff to WSP Global for £820 million.
The deal now makes WSP one of the world’s largest professional services firms, substantially increasing their presence across global emerging markets in Asia and Australasia alongside opportunities in the UK market, where Parsons Brinckerhoff is well-established.
With WSP already boasting a strong UK pipeline, Parsons Brinckerhoff adds more solid future projects to the WSP books including an £800m Trafford power project and the development of a £500m gas turbine power station in Kent.
To date there are 50 future construction projects which involve Parsons Brinkerhoff in the UK, with the total value of projects exceeding over £4 billion.
Commenting on the acquisition, Michael Dall, Lead Economist at Barbour ABI stated “Parsons Brinckerhoff look to be in an enviable position with an abundance of future construction projects in the pipeline. WSP however may well have been enticed by Parsons Brinckerhoff’s current involvement in the HS2 phase one development. Given that the total value of HS2 phase one is in excess of £17bn it is likely that this was an additional factor when WSP were making their decision.”