Harris Williams & Co. Advises MMM Group Limited on its Sale to WSP Global Inc.
Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of MMM Group Limited (MMM Group) to WSP Global Inc. (WSP; TSX:WSP) in a transaction valued at approximately CAD $425 million. MMM Group is one of the largest privately-owned engineering consulting companies in Canada. The transaction was led by Drew Spitzer, Matt White, Chris Burnham, Carl Menzel and Adam Daigle of Harris Williams & Co.’s Energy, Power & Infrastructure (EPI) Group.
The sale of MMM Group represents another successful transaction for Harris Williams & Co. and adds to the EPI Group’s experience in the architecture, engineering and construction (A/E/C) sector. Additional recent Harris Williams & Co. transactions include the sale of Focus Corporation to WSP and the sale of Callison to ARCADIS NV (ENXTAM:ARCAD).
“MMM Group is a critical provider of engineering consulting services to a wide range of clients across Canada and internationally and a pioneer in alternative project delivery, having completed over 100 projects via public-private partnerships (P3),” said Drew Spitzer, a managing director in Harris Williams & Co.’s EPI Group. “MMM Group has established market leadership and is favorably positioned to continue impressive organic growth. MMM Group has an excellent partner in WSP and we look forward to following the combined company’s continued success.”
“MMM Group is a differentiated platform with deep expertise in the transportation, infrastructure and environment and buildings markets,” said Matt White, a director in the firm’s EPI Group. “The combination with WSP is an excellent fit that brings complementary pieces together that deepen the combined company’s offerings and broaden its footprint.”
“We have thoroughly enjoyed working with the MMM Group management team,” said Chris Burnham, a vice president in the firm’s EPI Group. “We are seeing strong momentum in the architecture, engineering and construction sector as consolidation across the industry continues, which is further highlighted by the MMM Group transaction.”
MMM Group is a multidisciplinary engineering consulting firm creating vibrant and healthy communities through innovative planning, engineering and project management services across the transportation, infrastructure and environment and buildings markets. With more than 2,000 employees in 18 offices across seven provinces, the company utilizes strong client relationships and deep industry knowledge to deliver cutting-edge, personalized and practical solutions that help its clients seize opportunities, understand and address challenges, identify and manage risks and navigate relevant regulatory systems.
WSP is one of the world’s leading professional services firms in its industry, working with governments, businesses, architects and planners and providing integrated solutions across many disciplines. The firm provides services to transform the built environment and restore the natural environment. WSP’s expertise ranges from environmental remediation to urban planning, from engineering iconic buildings to designing sustainable transport networks, and from developing the energy sources of the future to enabling new ways of extracting essential resources. It has approximately 32,000 employees, including engineers, technicians, scientists, architects, planners, surveyors and environmental specialists, as well as other design, program and construction management professionals, based in more than 500 offices, across 40 countries, on five continents.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
Harris Williams & Co.’s EPI Group has experience across a broad range of sectors, including engineering and construction and environmental services, oil and gas equipment and services, energy efficiency and clean tech, industrial and infrastructure services and power products and technology. For more information on our energy, power and infrastructure experience, please visit the EPI Group’s section of the Harris Williams & Co. website.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.