WSP – TRC
WaiverWA-35001
View on ACCC websiteStage
Waiver application
Waiver Application Date
06/01/2026
Determination Published
13/01/2026 (7 cal / 2 bus. days)
Determination
Acquirers
WSP Global Inc.
Corporation No.: 7748388
Targets
TRC Companies, Inc.
Description
WSP Global Inc. (WSP) is a global engineering consulting services firm, which is listed on the Toronto Stock Exchange. In Australia, WSP operates through its wholly owned subsidiary, WSP Australia Pty Limited, and provides engineering services to customers across various industries (except where otherwise indicated, WSP and WSP Australia Pty Ltd are collectively referred to as WSP).
TRC Companies, Inc. (TRC) (referred to as the Target, together with its related subsidiaries forming the TRC group) is a US-based privately held engineering consulting and construction services firm which predominantly services clients in the US who own or operate large-scale infrastructure and land assets. TRC has no subsidiary, employees or other physical presence in Australia and has immaterial supplies to Australian customers from its offshore operations.
WSP has entered into an agreement to indirectly acquire 100% of the shares of TRC.
Commentary
WSP's global acquisition of TRC Companies was the one of the first two acquisitions to be granted a notification waiver by the ACCC. Both parties supply engineering consulting services, including for energy, transport and infrastructure sectors. The ACCC determined the acquisition did not require notification because:
- there is very limited horizontal overlap in Australia, as TRC has no Australian presence and generates negligible revenue from Australian customers;
- the parties' combined market share in engineering consulting services in Australia is very low; and
- alternative global and national suppliers remain.
While notification thresholds were likely met, the ACCC waived the requirement given its view that there were minimal competition concerns.
Updated 19/01/2026
Timeline & Events
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Merger notified to ACCC
06/01/2026