Wood Group completes acquisition of Agility Projects
- Business & Finance
Wood Group confirms that it has today completed its acquisition of Agility Projects AS.
In July 2014, Wood Group 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 $164m).
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.