Wood Group acquisition of BETA Machinery Analysis
Wood Group acquisition of BETA Machinery Analysis strengthens integrity management capabilities
CALGARY, June 30, 2015 - Wood Group has acquired BETA Machinery Analysis (BETA), a Calgary-based engineering consultancy specializing in advanced vibration analysis in a deal valued at US$14.3 million.
BETA’s expertise in advanced vibration, pulsation stress and dynamic analysis of piping systems and machinery during the design and production phases are key elements in integrity management and strengthen Wood Group’s capabilities. These services can be applied to field troubleshooting, monitoring and inspection of both greenfield and brownfield assets throughout the upstream, midstream and downstream oil and gas market. BETA’s current focus is the topsides, utilities, refineries and facilities (TURF) sector.
BETA employs approximately 100 personnel across their Canada, U.S., China and Malaysia locations and will continue to be led by its existing management team under Russ Barss, BETA president.
With 48 years in the industry, BETA’s service offering is highly complementary to Wood Group Kenny, as well as Wood Group PSN and Wood Group Mustang, with its services easily transferrable to the subsea umbilicals, risers and flowlines (SURF) sector.
The engineering consultancy will operate under Wood Group Kenny, specifically within the Wood Group Integrity Management business, further enhancing Wood Group Kenny’s existing capabilities to provide an all-of-facility integrity management service to both Wood Group’s and BETA’s client base.
Bob MacDonald, Wood Group Kenny CEO, said, “BETA complements our existing services globally, providing service line expansion further enhancing Wood Group Kenny’s integrity management capabilities. Wood Group and BETA are an excellent fit both operationally and culturally fostered from a partnership from past project experience.â€
Barss added, “We are very excited about joining Wood Group and believe with the support and strength of Wood Group, we can provide an enhanced global breadth of service to our customers. We are well aligned culturally, and our values are one and the same where safety, quality and integrity are major priorities.â€
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Notes to Editors
Wood Group is an international energy services company with more than $7 billion sales and operating in more than 50 countries. The Group is built on Core Values and has three businesses – Wood Group PSN, Wood Group Kenny and Wood Group Mustang – providing a range of engineering, production support and maintenance management services to the oil and gas and power generation industries worldwide. www.woodgroup.com
Wood Group Kenny is the world's largest independent specialist subsea, pipeline and riser engineering and management contractor, part of international energy services company Wood Group.
Wood Group’s Integrity Management business is a lifecycle application relevant to all phases of an asset's life. Integrity is a holistic requirement defined by strategies, procedures and management systems that will ensure the safe, cost-effective and reliable operation of an asset. The business has led the development and delivery of integrity management systems for many leading onshore and offshore facilities worldwide. www.woodgroupkenny.com
BETA Machinery Analysis is a global engineering consultancy headquartered in Calgary, Canada, specializing in advanced vibration analysis and field troubleshooting for the energy industry. www.betamachinery.com
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