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M&A: WSP Global Acquires Renewable Energy Consulting Firm 1A Ingenieros of Spain

April 10, 2024 by Joe Panettieri

WSP Global has acquired 1A Ingenieros, a consulting firm that serves power and energy customers in Spain. 1A's expertise spans renewable energy, electricity distribution and transportation, sustainable mobility, the industrial sector, and the environment. Financial terms of the deal were not disclosed.

This is M&A deal number 164 that Sustainable Tech Partner has covered so far in 2024. See all M&A deals involving sustainability, climate tech and green IT services listed here.

WSP Global, founded in 1865, is based in Montreal, Canada. The company provides professional services to companies in such sectors as transportation and infrastructure (41%); earth and environment (33%); property and buildings (19%) and power, energy and industry (7%). Key focus areas include ESG and sustainability consulting -- particularly in the renewable energy sector.

WSP has roughly 66,500 employees worldwide, including roughly 18,100 in the United States and Latin America. Revenues were CAD14.44 billion (US$) in 2023, including 7.3% organic growth.

Alexandre L'Heureux, CEO, WSP

1A Ingenieros, founded in 1997, is based in Castilla y León, Spain. The consulting company has roughly 250 employees focused on the Power and Energy sector. Key focus areas include renewable energy, electricity distribution and transportation, sustainable mobility, the industrial sector, and the environment.

After the deal closes, WSP's total headcount in Spain will reach roughly 600 employees.

WSP Acquires 1A Ingenieros: Executive Perspectives

In a prepared statement about the deal, WSP President and CEO Alexandre L’Heureux said: “This acquisition tracks our strategic ambitions to grow our offering in Central Europe and key sectors, and we are eager to welcome our new colleagues. Together with 1A Ingenieros, we will significantly increase our local presence and broaden our client base, creating new opportunities for WSP in Spain.”

Manuel Perez, managing director, Spain, WSP

Added WSP Spain Managing Director Manuel Pérez: “We are thrilled to announce the proposed acquisition of 1A Ingenieros and look forward to leveraging the power of a unified team in Spain. With a deepened pool of expertise in the growing Power & Energy sector, including additional capabilities in transmission and distribution, we will be able to enhance our service offering and grow our business across the country."

Concluded Ricardo Fortuoso Martin, president of 1A Ingenieros: “We are eager to merge our local expertise with WSP’s global reach, driving innovation and opening new opportunities for our people, to nurture their professional growth and pave the way for their future success."

Ricardo Fortuoso Martin, president, 1A Ingenieros

M&A Activity: Spain Consulting Companies, Renewable Energy

This is the second M&A deal involving Spain consultancies in recent days. The other involved  Accenture acquiring Axis Corp. Accenture gained an IT consulting company with financial services and sustainability expertise. Financial terms of that deal were not disclosed.

M&A activity involving renewable energy in Spain has also been steady. For instance, Recurrent Energy, a subsidiary of Canadian Solar, in March 2024 acquired a solar PV portfolio in the south of Spain with a capacity of more than 420 MWp. The portfolio is expected to produce approximately 916,000 MWh of clean energy each year, servicing the needs of more than 275,000 homes in the region and displacing approximately 184,000 tons of CO2 emissions, Recurrent Energy said. Financial terms of the deal were not disclosed.

On the flip side, Qualitas Energy, an investment firm based in Madrid, Spain, in early 2024 acquired wind farms and solar energy assets in German and the United States.

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