Wood Group expands capabilities in Swaggart acq...
11 December 2014
Wood Group expands US construction capabilities
with acquisition of Swaggart Brothers
Wood Group has acquired Swaggart Brothers (Swaggart), an Oregon-based provider
of civil construction and fabrication services to the US oil and gas,
industrial and agricultural sectors for an initial consideration of $36.3
million with a further payment in 2017 based on future performance.
With three US locations including Idaho and New Mexico, Swaggart employs
approximately 200 personnel. The business' oil and gas activities cover
multiple states and shale basins, including the Permian, Eagle Ford, Niobrara,
Bakken, Marcellus and Utica. Swaggart's capabilities include site works for
large civil projects and a range of mechanical and fabrication services.
Swaggart will operate within Wood Group PSN and further expands Wood Group's
civil, concrete, mechanical and fabrication capabilities. The business will
continue to be led by its existing management team under Lincoln Swaggart.
Robin Watson, Wood Group PSN CEO, said: "Swaggart aligns with Wood Group PSN's
Core Values and culture, exemplifying a strong focus on safety, strong customer
relationships and high-quality performance. Bringing Swaggart into the Wood
Group family is a testament to their excellent track record in supporting their
customers and to their high-quality workforce."
Lincoln Swaggart, Swaggart CEO, said: "We are excited to be joining Wood Group,
which we believe will greatly benefit Swaggart's customers and employees given
our combined breadth of service offerings. We have room for growth in the US
shale sector and have the skills and experience to contribute to Wood Group
PSN's oil and gas capability, while also continuing to support our industrial
and agricultural customers."
-ends-
Notes to Editors
Wood Group is an international energy services company with around $7bn sales,
employing about 40,000 people worldwide and operating in more than 50
countries. The Group is built on our 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 PSN is a global provider of pre-operations, hook up & commissioning,
operations & maintenance, engineering, construction, project management,
training and decommissioning services to the energy industry. Employing over
30,000 people in more than 40 countries, Wood Group PSN offers high integrity,
brownfield services that support customers to optimise performance, maintain
production, reduce operating costs and provide integrity assurance.
www.woodgroup-psn.com
Swaggart Brothers provides civil construction, mechanical/fabrication and site
development services to the oil and gas, industrial and agricultural sectors.
Headquartered in Hermiston, Oregon with offices in Idaho and New Mexico,
Swaggart operates in the US Lower 48 with a special focus on shale basins
including the Permian, Eagle Ford, Niobrara, Bakken, Marcellus and Utica.
www.swaggartbrothers.com
Media Contact
Danette Mozisek, Wood Group External Affairs Adviser
+1 281 828 3508, danette.mozisek@woodgroup.com
Carolyn Smith, Wood Group External Affairs Manager
+44 1224 851099, carolyn.smith@woodgroup.com
Investor/Analyst Inquiries
Andrew Rose, Wood Group Group Head of Investor Relations
+44 1224 532716, andrew.rose@woodgroup.com
Latest directors dealings
- 1 day ago Savannah Energy
- 1 day ago Buccaneer Energy PLC
- 1 day ago Savannah Energy
- 1 day ago Carclo
- 1 day ago Schroder Japan Growth Fund