M&A Deal Summary

WSP Acquires The Focus

On March 12, 2014, WSP acquired engineering company The Focus from Bow River Capital Partners and KRG Capital Partners for 366M USD

Acquisition Highlights
  • This is WSP’s 1st transaction in the Engineering sector.
  • This is WSP’s 4th largest (disclosed) transaction.
  • This is WSP’s 1st transaction in Canada.
  • This is WSP’s 1st transaction in Alberta.

M&A Deal Summary

Date 2014-03-12
Target The Focus
Sector Engineering
Buyer(s) WSP
Sellers(s) Bow River Capital Partners
KRG Capital Partners
Deal Type Add-on Acquisition
Deal Value 366M USD
Advisor(s) Harris Williams & Co. (Financial)
Stikeman Elliott LLP (Legal)

Target

The Focus

Calgary, Alberta, Canada
website
The Focus Corporation is a multi-disciplinary consulting firm providing a range of engineering, geometrics, planning and project management services to clients in the energy, environmental, infrastructure, land development and resource sectors. The Company is headquarted in Edmonton, with addditional branches throughout Saskatchewan, British Columbia, and Alberta, and is a winner of Canada?s 50 Best Managed Companies.

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Buyer(S) 1

Buyer

WSP

Montreal, Quebec, Canada

website


Category Company
Founded 1885
Sector Business Services
Employees47,100
Revenue 8.8B CAD (2020)
DESCRIPTION

WSP is a professional services firms, WSP provides technical expertise and strategic advice to clients in the Property & Buildings, Transportation & Infrastructure, Environment, Industry, Resources (including Mining and Oil & Gas) and Power & Energy sectors. Company also offer highly specialized services in project delivery and strategic consulting. Company experts include engineers, advisors, technicians, scientists, architects, planners, surveyors and environmental specialists, as well as other design, program and construction management professionals. With approximately 36,000 talented people in 500 offices across 40 countries. WSP was founded in 1885 and is based in Montreal, Canada.


DEAL STATS #
Overall 3 of 24
Sector (Engineering) 1 of 13
Type (Add-on Acquisition) 3 of 19
State (Alberta) 1 of 1
Country (Canada) 1 of 3
Year (2014) 1 of 5
Size (of disclosed) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-12 Natlikan International AB

Stockholm, Sweden

Natlikan International AB the Swedish based environmental software company. Natlikan has over 20 years of experience designing, building and selling web based environmental solutions integrated with environmental consultancy in the corporate sector.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-30 Technip TPS S.A.S.

Paris, France

Technip TPS S.A.S. is a provider of engineering services to design and supervise a variety of work in the public and private sectors in France and abroad.

Buy -

Seller(S) 2

SELLER

Bow River Capital Partners

Denver, Colorado, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2003
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Bow River Capital is a private equity firm that provides equity capital and mezzanine debt to high growth companies. The Firm targets businesses generating sales of $25 and $200 million and EBITDA of $5 to $20 million. Bow River will consider investments throughout the US and Canada, however, the Firm's primary focus is on opportunities in the Rocky Mountain and Western regions of the US and Canada. Target industries include manufacturing, distribution, transportation, business and consumer services, financial services, natural resources and real estate. The Firm will consider both control and minority positions. Bow River Capital was established in 2003 and is based in Denver, Colorado.


DEAL STATS #
Overall 7 of 21
Sector (Engineering) 1 of 3
Type (Add-on Acquisition) 3 of 8
State (Alberta) 3 of 3
Country (Canada) 3 of 3
Year (2014) 1 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-02-13 Kobelt

Surrey, British Columbia, Canada

Kobelt designs and manufactures a diverse line of parts and components including disc brake systems, push-pull controls, hydraulic and electro-hydraulic steering systems, as well as electronic control systems for marine, transportation and industrial uses. Kobelt was founded in 1962 and is based in Surrey, British Columbia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-22 Holman Boiler Works

Dallas, Texas, United States

Holman Boiler Works is a commercial and industrial boiler company focused on service and maintenance, boiler rentals, tubular products, aftermarket parts, and new and used equipment sales.

Sell -
SELLER

KRG Capital Partners

Denver, Colorado, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1996
PE ASSETS 4.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

KRG Capital Partners is a private equity investment firm focused on acquiring controlling interests in middle-market companies. Prospective transaction situations include owner recapitalizations, management buyouts of private companies, mangement buyouts of corporate divisions, outright purchases, and family successions. Target companies typically generate sales of $35 to $400 million and EBITDA of $10 to $100 million. Sectors of interest include healthcare services, medical technology and life sciences; business services and distribution; construction materials and services; transportation services; marketing; specialty finance and insurance; aerospace, defense, and government services; energy services and products; and infrastructure. KRG primarily looks for opportunities located in the US and Canada but will selectively consider investments in Western Europe. KRG was formed in 1996 and is based in Denver, Colorado with additional offices in Mill Valley, California and Las Vegas, Nevada.


DEAL STATS #
Overall 28 of 41
Sector (Engineering) 2 of 3
Type (Add-on Acquisition) 14 of 21
State (Alberta) 1 of 1
Country (Canada) 1 of 1
Year (2014) 2 of 4
Size (of disclosed) 9 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-27 Hospitality Staffing Solutions

Atlanta, Georgia, United States

Hospitality Staffing Solutions LLC is a provider of outsourced housekeeping and related services to the hospitality sector in the United States. With operations in 38 states and Puerto Rico, HSS provides a comprehensive suite of services, including housekeeping, food service, laundry, and groundskeeping, as well as outsourcing solutions for day-to-day management responsibilities, including hiring, training, and payroll. Founded in 1990, the company currently supports more than 1,000 properties in 75 markets.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-17 Inventus Power

Woodridge, Illinois, United States

Inventus Power is a provider of fully integrated, custom engineered rechargeable power systems, focused on low to medium volume products for mission critical electronic applications. Inventus Power was founded in 1960 and is based in Woodridge, Illinois.

Buy -