Wood Group has reached an agreement with Agility Group to acquire Agility Projects, a Norwegian engineering, procurement, construction management, installation and commissioning company, for a total consideration of approx. USD 164M. Based in Sandefjord, near Oslo, Agility Projects – a wholly owned subsidiary of Agility Group – focuses on activities on the Norwegian Continental Shelf (NCS) with operations in Oslo, Stavanger, Bergen, Moss and an engineering office in Shanghai, China.
Agility Projects will operate within Wood 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. Steve Knowles, CEO of Wood Group Mustang, said: “Agility Projects’ reputation is very well-established in Norway and represents a strategically important acquisition for Wood Group Mustang as it increases our exposure to the greenfield and brownfield engineering markets on the NCS.” Søberg added: “Agility Group is very pleased to have found a new home for Agility Projects and the business is very excited to become part of Wood Group. The culture and core values of Agility Projects represent a perfect fit with Wood Group Mustang as we both focus on quality of service, customers and employees.”
