Altrad completes acquisition of Doosan Babcock

Altrad has added 4,000 new staff after signing its financial agreement to acquire Doosan Babcock Limited.

Altrad has added 4,000 new staff after signing its financial agreement to acquire Doosan Babcock Limited.

Both industrial services businesses reached the financial close on the deal yesterday (Sunday 25 September).

Doosan Babcock which will now be renamed Altrad Babcock Limited is a specialist in delivering engineering, aftermarket and upgrade services to the nuclear, thermal, oil and gas, petrochemical and process sectors.

In a statement, Altrad said that; “Concluding this transaction marks another exciting milestone in Altrad’s development, whereby it invests in businesses that share its excitement, vision and values – and a desire to add enhanced value to its clients.”

Ran Oren – Altrad Group Co-CEO said, “We have admired the Doosan Babcock business from a distance for many years and I am pleased we have been able to finalise this latest acquisition, which will add a wide range of value-adding engineering skills to the Altrad Group.

We are committed to investing in the business to support its continued growth, so together, we can play our part in supporting the transition towards a more sustainable future.”

Altrad’s CEO for the UK, Ireland & Nordics – Padraig Somers added, “We are delighted to welcome Doosan Babcock into the Altrad family. The acquisition represents an exciting opportunity to extend our portfolio of services and enter new markets, whilst enhancing the outcomes we deliver for our clients.”

The deal will encompass approximately 4,000 talented people joining Altrad, wherein they will be valued and encouraged to develop fulfilling careers, to become the best they can be, Altrad said.

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