KAEFER ac­quires Wood’s in­dus­trial ser­vices busi­ness

KAEFER has announced the acquisition of Wood’s industrial services business from John Wood Group PLC in the UK and Ireland.

The global industrial services firm has stated the business is becoming a wholly-owned subsidiary of KAEFER Group. It’s understood that the two companies will merge into one company that will operate as KAEFER all over the UK and Ireland.

Reports suggest Wood’s industrial services business was sold for an initial payment of $104 million. A potential further $14 million will be paid pending on the business achieving agreed financial goals.

KAEFER has said the merger will provide its clients with additional capacities, know-how and project management capabilities.

Wood’s in­dus­trial ser­vices busi­ness em­ploys ap­prox­im­ately 2,000 highly skilled people at 16 loc­a­tions all over the UK and Ire­land. The com­pany provides high-end ser­vices for in­dus­trial op­er­a­tions, such as the ap­plic­a­tion of pro­tect­ive coat­ings, ac­cess solu­tions, thermal in­su­la­tion, pass­ive fire pro­tec­tion and spe­cial­ist ser­vices.

“Our cli­ents will con­tinue to re­ceive the same high-qual­ity ser­vice they have come to ex­pect plus the ex­tra value offered by both com­pan­ies work­ing to­gether,” says Steen E. Hansen, Co-CEO at KAEFER.

“Wood’s in­dus­trial ser­vices busi­ness and KAEFER work in dif­fer­ent, yet re­lated in­dus­tries, which is why they com­ple­ment one an­other so well. These com­bined cap­ab­il­it­ies will sup­port our cli­ents’ suc­cess and in­crease our com­pet­it­ive strength. We are cer­tain that this is an ex­cel­lent step to­wards reach­ing the goals es­tab­lished in our stra­tegic pro­gramme.” adds Hansen.