Professional services group advises on $104m sale of industrial services business

Helen Ridge

International professional services firm Pinsent Masons has advised John Wood Group on the sale of its industrial services business to technical services provider KAEFER for $104m.

The deal also includes a further payment of up to around $14m pending achievement of agreed financial goals.

The divestment is another important step in Wood’s portfolio rationalisation strategy and follows the planned sale of the company’s nuclear business, which was announced in August 2019 and is expected to complete in the first quarter of 2020.

Wood’s industrial services business provides integrity and fabric maintenance for assets in the marine, process energy, offshore oil & gas and infrastructure sectors across the UK and Ireland.

Pinsent Masons advised John Wood Group on all aspects of the sale.

Corporate partner, Helen Ridge, led the Pinsent Masons team, which also included associate Anna Mee, Neil Munford and tax senior associate Andrew McCarthy.

Helen said: “We were delighted to work closely with the John Wood Group PLC team on this strategically important divestment.

“This sale helps John Wood Group’s rationalisation strategy and we look forward to future collaboration with the team.”

Wood’s nuclear business employs more than 1,300 people in the North West, mainly at Knutsford and Birchwood in Cheshire and at Sellafield and Whitehaven in Cumbria.

KAEFER has offices in Glasgow, Newcastle, Middlesbrough, and Nottingham.

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