We congratulate our client, Power Engineers, Incorporated (POWER), the nation’s premier engineering,
environmental and project management firm focused on power delivery and generation, on joining WSP
Global, Inc. (WSP) (TSX: WSP), one of the World’s largest professional services firms, in their US$1.78
Billion combination. Matheson Advisors has provided annual business valuation services to POWER for
27 years since our initial work designing the firm’s 1998 ownership transition from three owners when it
was less than $30 million in revenue. Matheson Advisors was retained by POWER’s Board of Directors
to be its Valuation and Financial Advisor to analyze the transaction on behalf of the Board and
Shareholders and to provide a financial Fairness Opinion.
Established in 1976 by two engineers in Pocatello, Idaho, before moving to Hailey, ID, POWER rose to be
a 4,000 person employee-owned firm generating over $850 million in revenue and was the 2024 ENR
ranked #6 largest firm in Power and the #26 largest Design Firm overall. Now operating from 50 offices
across North America, POWER is the recognized expert in transmission and distribution, and grew
rapidly as the nation sought to build out its electrical grid with sustainable/renewable energy sources.
POWER offers a full suite of multi-discipline services to clients in electrical power delivery, power
generation, renewables and storage, campus energy, oil, gas and petrochemicals, agribusiness, food and
beverage, and government. The merger of the two firms will significantly expand WSP’s global Power's;
Energy sector, which will operate under the POWER brand.
As one of the largest professional services firms in the world, WSP exists to future-proof our cities and
our environment. It provides strategic advisory, engineering, and design services to clients seeking
sustainable solutions in the transportation, infrastructure, environment, building, energy, water, and
mining sectors. With 69,300 professionals WSP generated 2023 revenue of $14.4B (CAN$) in revenue
and the company’s shares are listed on the Toronto Stock Exchange (TSX: WSP).
Matheson Advisors acted as the Valuation and Financial Advisor to POWER’s Board of Directors to
analyze the fairness of the transaction from a financial point of view and provide a financial Fairness
Opinion. Matheson Advisors is an AEC-focused corporate finance and M&A advisory firm based in
McLean, VA with a 27 year track record of working with AEC firms on business valuations, M&A
representation, management buyouts, ESOPs, and guiding AEC firm leaders in evaluating and developing
capital strategies.