Consultant hopes to expand reach in French market
WSP has announced that it has reached an agreement to buy a French infrastructure engineering company.
The firm has signed an agreement to acquire the 100-strong Technip TPS S.A.S. (TPS) from Tecnip S.A.
In 2013, the French firm reported a profit of €20m (£16m).
The acquisition is due to complete on 30 April after which Éric Falleur, currently president of TPS, will continue to head the operations of the subsidiary in France.
Pierre Shoiry, president and chief executive of WSP, said the profile of TPS “meshed perfectly with our growth strategy” and would “enhancing our expertise in the industrial and building sectors”.
He added: “TPS’s international reputation, particularly in the aeronautics and health sectors in Middle East and Asia, will enable us to pursue our growth strategy and to maximize WSP’s worldwide network for our French clientele.”
Falleur said he was “proud” to join WSP. He added: “This transaction will contribute to the achievement of TPS’s strategic goals and offers a solid foundation for continued growth in France and around the world. Since our operations are complementary, this will create new opportunities for our employees and our clients.”