Wood Group seeks bolt-on acquisitions
Wood Group reveals it is looking for bolt-on acquisitions.
Wood Group, the Scotland-based energy services specialist, has
revealed it is looking for bolt-on acquisitions.
Its announcement comes after figures revealed that the
business's financial performance remained in line with
expectations, according to the Scotsman.
The company has annual revenues of approximately £3.3 billion
thanks to the continued demand for activities supporting oil and
Sir Ian Wood, the group's chairman, said that the company was
now looking to move forward from its current, successful position
and open up opportunities in other areas across the world.
Speaking at the business's annual general meeting, he said: "We
continue to pursue a number of bolt-on acquisition opportunities to
expand our geographic footprint in key growth markets," reports the
Locations that the company is paying particularly close
attention to include Africa, Asia-Pacific and the Middle-East.
Testament to this is Wood Group's recent acquisition of the
controlling interest in the engineering firm Al-Hejailan
Consulting, a company based in Saudi Arabia.