M&A Deal Summary

GE Oil & Gas Acquires Well Support Division - John Wood Group

On February 14, 2011, GE Oil & Gas acquired energy services and equipment company Well Support Division - John Wood Group from John Wood Group for 2.8B USD

Acquisition Highlights
  • This is GE Oil & Gas’ 1st transaction in the Energy Services and Equipment sector.
  • This is GE Oil & Gas’ largest (disclosed) transaction.
  • This is GE Oil & Gas’ 1st transaction in the United Kingdom.

M&A Deal Summary
Date 2011-02-14
Target Well Support Division - John Wood Group
Sector Energy Services and Equipment
Buyer(s) GE Oil & Gas
Sellers(s) John Wood Group
Deal Type Divestiture
Deal Value 2.8B USD

Target

Well Support Division - John Wood Group

United Kingdom
Wood Group's Well Support division is comprised of three business platforms: ESP (electric submersible pumps), Pressure Control (surface wellhead and flow control systems) and Logging Services (wireline logging).

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Buyer(S) 1

Buyer

GE Oil & Gas

Houston, Texas, United States
Category Company
Sector Energy Services and Equipment
DESCRIPTION
Entrance to GE Oil & Gas' corporate headquarters in Houston, Texas.
Entrance to GE Oil & Gas' corporate headquarters in Houston, Texas.

GE Oil and Gas specializes in turbomachinery technology, which is used in mechanical-drive, compression and power-generation applications in the hydrocarbons industry. GE Oil & Gas serves customers all over the world. GE Oil & Gas is based in Houston, Texas.

DEAL STATS #
Overall 2 of 6
Sector (Energy Services and Equipment) 1 of 3
Type (Divestiture) 1 of 2
Country (United Kingdom) 1 of 2
Year (2011) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-03-01 AstroPower

Newark, Delaware, United States

AstroPower, Inc. "Astro" or the "Company"), is a market leader in developing, manufacturing, marketing and selling solar electric power generation products for the global marketplace.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-10 Naxys AS

Bergen, Norway

Naxys AS is a developer and provider of leak detection and condition monitoring systems for subsea installations. Naxys was formed in 1999 and is based in Bergen, Norway.

Buy -

Seller(S) 1

SELLER

John Wood Group

Aberdeen, United Kingdom
Category Company
Founded 1912
Sector Energy Services and Equipment
Employees38,100
Revenue 7.6B USD (2020)
DESCRIPTION

John Wood Group is a provider of engineering, production support, maintenance management and industrial gas turbine overhaul & repair services to the oil & gas and power generation industries worldwide. Our services are all-encompassing, supporting the full lifecycle of oil & gas and power generation facilities. John Wood Group was founded in 1912 and is based in Aberdeen, the United Kingdom.

DEAL STATS #
Overall 1 of 5
Sector (Energy Services and Equipment) 1 of 3
Type (Divestiture) 1 of 5
Country (United Kingdom) 1 of 5
Year (2011) 1 of 1
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-20 Production Services Network Emirates

Abu Dhabi, United Arab Emirates

PSN operates in the global Oil & Gas Services sector with a wide-ranging service provision scope covering project management, engineering, construction, hook up, commissioning, facilities and production management, operations and maintenance.

Buy $955M
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