Wood Group announces acquisition of Agility Projects

Wood Group has reached an agreement with Agility Group to acquire Agility Projects AS, a Norwegian engineering, procurement, construction management, installation and commissioning company, for a total consideration of NOK 1,008m (approximately $164m1).

Based in Sandefjord, near Oslo, Agility Projects, which is a wholly owned subsidiary of Agility Group AS, is focusing on activities on the Norwegian Continental Shelf (NCS) and employs 650 personnel with operations in Oslo, Stavanger, Bergen, Moss and an engineering office in Shanghai, China.

Agility Projects will operate within Wood Group Mustang’s offshore business and will be headed up by the current Agility Group CEO, Otto Søberg, and the existing Agility Projects management team.

The transaction is subject to a number of conditions, including competition approval in Norway, and completion is expected in Q3 2014.

Steve Knowles, chief executive officer of Wood Group Mustang, said: “Agility Projects’ reputation is very well-established in Norway and represents a strategically important acquisition for Wood Group Mustang as it increases our exposure to the greenfield and brownfield engineering markets on the NCS. Agility Projects complements Wood Group’s existing engineering activities in Norway and recently we successfully collaborated in winning the Ivar Aasen topside engineering project in Norway.”

Otto Søberg, chief executive officer of Agility Group, said: “Agility Group is very pleased to have found a new home for Agility Projects and the business is very excited to become part of Wood Group as it provides access to more engineering resources, allowing Agility Projects to offer a better level of service to our existing and new clients and enable us to pursue larger and more complex offshore engineering projects. The culture and core values of Agility Projects represent a perfect fit with Wood Group Mustang as we both focus on quality of service, customers and employees.”

Press Release, July 14, 2014; Image: Agility Group

Share this article

Follow Offshore Energy Today

Events>

<< Jun 2019 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

Shanghai Int Petrochemical and Offshore Oil & Gas and Chemical Industry Technology and Equipment Exhibition 2019

cippe Shanghai has attracts both domestic and overseas buyer groups, including Shell, Exxon Mobil, Total…

read more >

OIL & GAS PHILIPPINES 2019

Oil & Gas Philippines event display products like Oil & gas, fire protection systems and materials…

read more >

Nigeria Oil & Gas Conference & Exhibition 2019

The annual meeting once again proved to be a great success, gathering over 700 industry professionals…

read more >

08th OIL & GAS AFRICA 2019 CONFERENCE

OIL & GAS AFRICA is one of the most prime regional & international Oil and Gas conferences in East Africa…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply