In recent months, publicly traded engineering and design firms, including Jacobs and WSP, have announced billion-dollar acquisitions aimed at vertically expanding their capabilities across consulting, digital, and infrastructure services, including water-related offerings.
On 5 January 2026, Jacobs acquired the remaining 35% stake in PA Consulting for approximately US$1.6 billion, building on its original 65% majority investment in 2020. Separately, on 15 December 2025, WSP Global announced its acquisition of TRC Companies for US$3.3 billion, strengthening its reach across power, utilities, transportation, water, and environmental markets.
Similarly, AECOM is also repositioning its portfolio. In November 2025, the firm announced plans to divest its construction management business, sharpening its focus on higher-margin consulting and advisory work. This shift includes the company’s US$390 million acquisition of Consigli, a Norwegian AI technology provider focused on building and infrastructure design and engineering. Collectively, these moves point to a strategic convergence with leading consulting firms now competing for influence at the utility decision layer.
