WSP – TRC Companies Acqusition

Great move in my opinion. WSP seems to be cornering the market one of of the biggest bottlenecks in the world right now, that being the power grid. POWER Engineers last year and now TRC now. Power & Energy will represent 34% of WSP's U.S. revenue (up from a much smaller fraction a few years ago)

They paid 14.5x EBITDA, slightly more than WSP trades at itself, but when we consider the cost synergies that will come with the deal, we will likely see EBITDA improve immediately and bring that multiple down.

Immediately accretive to earnings, meaning the share issuances won't matter as EPS still increases. Makes it the largest consulting/engineering company in the US by revenue.

Again, WSP making big bets on the "Electrification of Everything" and I like it.