ABERDEEN, UK – Wood Group has reached an agreement with Agility Group AS to acquire Agility Projects AS, a Norwegian engineering, procurement, construction management, installation, and commissioning company, for a total consideration of $164 million.
Agility Projects, a wholly owned subsidiary of Agility Group, focuses on activities on theNorwegian continental shelf and employs 650 personnel with operations in Oslo, Stavanger, Bergen, and Moss. It also has an engineering office in Shanghai, China.
Agility Projects will operate withinWood 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.
The transaction is expected to be completed in 3Q 2014.