WSP Completes the Previously Announced Acquisition of Parsons Brinckerhoff

MONTREAL, QUEBEC--(Marketwired - Oct. 31, 2014) - WSP Global Inc. (TSX:WSP) ("WSP" or the "Corporation") is pleased to announce that it has completed the previously announced acquisition (the "Acquisition") of all of the issued and outstanding capital stock of the entities comprising the business of Parsons Brinckerhoff Group Inc. (collectively, "Parsons Brinckerhoff"), the professional services division of Balfour Beatty plc ("Balfour Beatty").

"I am pleased with this acquisition, as we become an industry leader, with the ability to deliver more expertise and services to our client base across the world," said Pierre Shoiry, President and Chief Executive Officer of the new combined entity. "We will now focus on combining our respective businesses and on generating revenue synergies, such as in the rail sector where we see an opportunity to combine WSP's expertise in above ground station and platform design, with Parsons Brinckerhoff's expertise in tunnelling and underground technology or in the aviation sector, where our expertise in land and air sides are complementary."

Upon closing, George J. Pierson, President and Chief Executive Officer of Parsons Brinckerhoff, was appointed an executive director of the Corporation. As such, he will pursue his active role in the organization as CEO of Parsons Brinckerhoff, while ensuring continuity and seamless integration at the highest level as director of the Corporation. Mr. Pierson will transition from CEO of Parsons Brinckerhoff to a non-executive director position at the end of the year.

The US$1,310.2 million purchase price in connection with the Acquisition, which was paid in cash, included preliminary working capital adjustments and cash retained by Parsons Brinckerhoff of US$85.5 million, but excluded debt. The purchase price was financed using the net proceeds from the Corporation's previously closed $502 million public bought deal offering of subscription receipts and $36 million additional offering of subscription receipts through the exercise of the over-allotment option; the $400 million private placement of subscription receipts with Canada Pension Plan Investment Board ("CPPIB") and the Caisse de dépôt et placement du Québec ("La Caisse") as well as from its new credit facilities.