Wood Group expands services with BETA acquisition
- Business & Finance
Wood Group has acquired BETA Machinery Analysis (BETA), a Calgary-based engineering consultancy specializing in advanced vibration analysis in a deal valued at $14.3 million.
According to Wood Group, 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, Wood Group said in the press release.
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.”
Russ 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.”