Clough announced that it has entered into an agreement to acquire Saulsbury’s Gulf Coast downstream and chemical business unit and its Engineering, Procurement and Construction (EPC) portfolio based in Houston. The purchase consideration was USD 5.2M.
Henry Laas, Murray & Roberts Group Chief Executive comments: “The acquisition of a USA-based EPC contractor in the oil and gas sector gives the Oil & Gas platform the ability to deliver projects to a rapidly growing market in the USA. This is a small but strong project controls organisation, staffed with competent people with a full EPC capability for projects up to USD 300M. Clough will market its new EPC capability to its major global clients operating in America, such as Exxon, Chevron, ConocoPhillips and Shell.”
Since 2014, Clough has been supporting US and Canadian clients through its CH-IV International and Clough Enercore companies. The acquisition of Saulsbury’s Gulf Coast engineering, procurement and construction assets aligns with Clough’s strategy to grow its capability and service offering to address the North American downstream, petrochemical/chemical, midstream and Liquid Natural Gas (LNG) markets.
North American clients will now be able to leverage Clough’s global experience in providing pioneering project delivery solutions for LNG, oil and gas gathering and processing facilities, refineries, chemical/petrochemical plants, near-shore marine and offshore assets.
Clough CEO and Managing Director, Peter Bennett said: “As we continue to grow our engineering and construction services internationally, we expect this acquisition to be a key part of Clough’s North American growth ambitions. The North America market has demonstrated continued growth in a stable environment with vast opportunities in oil and gas.”
