WSP Global Inc. (TSX: WSP) has acquired Focus Corp. for $366 million in cash.
Focus Corp., headquartered in Alberta, Canada, provides engineering services to the oil and gas industry in Western Canada. The group was sold by private equity firm KRG Capital Partners, which is based in Denver.
Montreal-based WSP provides professional services for governments, businesses and architects. The company provides environmental remediation, urban planning, engineering and designing transportation networks, developing new energy sources and extracting natural resources. The deal was previously announced in March.
KRG has about $4.3 billion in capital under management. The firm focuses in buying majority stakes in middle market companies. The firm's recent deals have included the March purchase of ICCNexergy Inc., a company that makes rechargeable power sources, and acquisition of PSI Acquisition LLC as an add-on to Trafficware Group Inc.
Drew Spitzer, Brian Lucas, Tiff Armstrong Matt White and Chris Burnham from Harris Williams & Co. advised Focus Corp. on the deal, which closed on April 10. Stikeman Elliott LLP was KRG's legal counsel on the deal.