WSP has acquired global professional services firm RPS Group in a £591m deal.
Founded in 1970, RPS is headquartered in Abingdon, Oxfordshire. It is a diversified and well-recognised global professional services firm with approximately 5,000 employees including consultants, designers, planners, engineers, and technical specialists.
In 2021, the company was named one of the first carbon champions' by the Institution of Civil Engineers. The boards have agreed a cash deal for RPS at 206p per share - a 76% premium against Monday's closing price of 117p.
Ken Lever, chairman of RPS, said: 'The RPS Directors believe that RPS has a clear strategy and is strongly positioned for the future, underpinned by favourable trends in its end markets and the benefits that are starting to flow from investments in RPS’ talent programme, brand, marketing strategy and technology initiatives.
'However, this is a compelling offer from WSP which fully values the business and its future prospects. It represents a highly attractive premium to recent trading levels and provides certain value in cash today for RPS Shareholders. The RPS directors also believe that the acquisition will provide career opportunities for our employees within the enlarged WSP Group as well as access to a comprehensive and expanded service offering for our clients.'
Alexandre J. L’Heureux, President and CEO of WSP Global, said: 'Combining the capabilities of the RPS Group and the WSP Group is strategically compelling and will allow us to leverage our collective know-how and provide a broader range of complementary services to our clients while building a world-class ESG advisory business.
'We are looking forward to welcoming the RPS Group’s talented employees and believe they will benefit from the expanded career and development opportunities this acquisition will bring the employees of both firms.'
It marks the second time this summer WSP has moved in on a London-listed business, having agreed to buy Wood Group's environmental consulting business for £1.5bn in June.
