Versar, Inc., a global engineering, environmental, and security services platform backed by Kingswood Capital Management, announces that it has completed its acquisition of Louis Berger Services from WSP Global Inc. LBS specializes in operations and maintenance services for complex infrastructure assets at mission-essential defense and civilian facilities worldwide and currently employs approximately 1,400 people.
“Versar is thrilled to welcome every LBS employee to the Versar team,” said Jim Jaska, Versar’s CEO. “Our complementary service offerings will allow us to leverage each others’ customers and capabilities and grow our business to compete worldwide, while maintaining our exceptional dedication to one-on-one customer service.”
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“Acquired by WSP as part of the Louis Berger transaction in 2018, LBS has an impressive team and track record. We are pleased to have reached this agreement with Versar and are confident this transaction will ensure the long-term success of the LBS business,” said Alexandre L’Heureux, WSP’s President and CEO. “I would like to thank all LBS employees for their commitment, professionalism, and contributions to WSP, and I wish them continued success with Versar.”
“LBS provides best-in-class logistics services at strategic U.S. Federal Government facilities in foreign countries and domestically as well as for U.S. state and local governments. LBS represents Kingswood’s fifth investment in the government services sector since 2017. The acquisition of LBS is a significant milestone for Versar that fits squarely in our long-term plan to develop and expand Versar’s diversified global services platform,” said Alex Wolf, Managing Partner at Kingswood.
SOURCE: PRNewswire