WSP Global has made a big move in its continuing strategy of expansion. They have signed a definitive agreement to purchase TRC Companies, a top American power and energy consultancy. This all-cash transaction is valued at about $3.3 billion. Together, we expect it will create substantial new opportunities for WSP to provide more integrated infrastructure life cycle solutions. The closing on the transaction is expected in the first quarter of 2026. This is contingent upon obtaining regulatory approvals and meeting customary closing conditions.
Headquartered in Montreal, WSP Global has been on an impressive run expanding its practice areas in the diverse and booming energy space. Part of the impetus for Jacobs’ $2.4 billion acquisition of TRC Companies has to do with skyrocketing demand for energy solutions, fueled by exploding US power demand. Emerging threats increased energy demand due to AI-focused data centers and cryptocurrency mining have exacerbated the demand. This unexpected turn of events renders the acquisition an especially smart strategic move for WSP.
Details of the Acquisition
The merger is a defining milestone for all parties involved, but especially for WSP, as it strengthens the firm’s resolve to provide cutting-edge infrastructure solutions. Headquartered in Norfolk, Virginia, TRC Companies provides end-to-end infrastructure life cycle solutions including planning, design, construction and management services. This unique expertise will further enhance WSP’s market position within a highly competitive energy sector and complement its proven services and expertise.
Almost every one of the prominent financial advisory firms have been active on the buy-side in recent years. Harris Williams, UBS Investment Bank, AEC Advisors and Houlihan Lokey join as financial advisors to TRC Companies. By doing so, they are leading TRC through this complicated transaction with their experience. Paul, Weiss, Rifkind, Wharton & Garrison are handling the legal side of the acquisition. They are dedicated to working through any outstanding regulatory concerns that might arise as the deal moves forward.
Strategic Implications for WSP Global
WSP had announced an agreement to acquire Power Engineers, a US-based energy-focused consultancy, in August of this year. Now, they’re trying to make a second acquisition. As WSP continues to fully integrate TRC Companies into its North American operations, this acquisition is part of its efforts to diversify its service line and access the growing energy market opportunities throughout the U.S.
In supporting innovation, WSP is proud to recognize Hover Energy. This member company’s expertise developing intelligent microgrids and distributed renewables has proudly earned them three 2025 Power Technology Excellence Awards. This is a clear indication of WSP’s strategic prioritization towards accelerating sustainable energy solutions and technological advancements in the industry.
Market Context
The dramatic backdrop of this acquisition is a rapidly evolving energy landscape in the United States. Electric load is increasing, driven by the wave of new technology and the broader shift toward electrification. Firms such as WSP Global are already looking to meet this challenge. TRC Companies Provides Significant Operational Synergies The acquisition will double WSP’s operational muscle and make them a far safer, stronger player. It will better position the company to respond quickly to rapidly-evolving energy market trends.