M&A Deal Summary

John Wood Group and Siemens Acquire Ethos Energy

On January 1, 2014, John Wood Group and Siemens acquired energy services and equipment company Ethos Energy

Acquisition Highlights
  • This is John Wood Group’s 4th and Siemens’ 2nd transaction in the Energy Services and Equipment sector.
  • This is John Wood Group’s 4th and Siemens’ 12th transaction in the United States.
  • This is John Wood Group’s 2nd and Siemens’ 3rd transaction in Texas.
Investment Fate
  • Ethos Energy was divested to a consortium of buyers in 2024.

M&A Deal Summary

Date 2014-01-01
Target Ethos Energy
Sector Energy Services and Equipment
Buyer(s) John Wood Group
Siemens
Deal Type Joint Venture

Target

Ethos Energy

Houston, Texas, United States
Ethos Energy is a company that specializes in providing rotating equipment services and solutions. Ethos Energy offerings include facility operations and maintenance, designing and manufacturing engineered components, and repairing and optimizing gas and steam turbines, generators, compressors, and transformers. Ethos Energy was founded in 2014 and is based in Houston, Texas.

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Buyer(S) 2

Buyer

John Wood Group

Aberdeen, United Kingdom

Category Company
Founded 1912
Sector Energy Services and Equipment
Employees35,319
Revenue 5.9B USD (2023)
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, Scotland.


DEAL STATS #
Overall 8 of 20
Sector: Energy Services and Equipment M&A 4 of 4
Type: Joint Venture M&A Deals 1 of 1
State: Texas M&A 2 of 5
Country: United States M&A 4 of 10
Year: 2014 M&A 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-01 Agility Group AS

Sandefjord, Norway

Agility Group AS is a Norwegian technology and facrication company. The Group is organised in two business areas, Subsea Fabrication, a major subsea fabricator, specialising in subsea manifold modules and integrated template systems. Minox - Process technology company providing compact de-aeration solutions to the global oil and gas market

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-01 Sunstone Projects

Calgary, Alberta, Canada

Sunstone Projects Ltd. is a pipeline consulting company providing engineering, procurement and construction management (EPCM) services to clients in the canadian oil & gas industry.

Buy CA$15M
Buyer

Siemens

Munich, Germany

Category Company
Founded 1847
Sector Diversified
Employees320,000
Revenue 75.9B EUR (2024)
DESCRIPTION
Siemens office building in St. Louis, Missouri.
Siemens office building in St. Louis, Missouri.

Siemens is a global engineering and electronics conglomerate company headquartered in Munich. Siemens serves a variety of customers and is organized in in four main divisions: Industry, Energy, Healthcare, and Infrastructure & Cities. Siemens was founded in 1847 and is based in Munich, Germany.


DEAL STATS #
Overall 25 of 53
Sector: Energy Services and Equipment M&A 2 of 3
Type: Joint Venture M&A Deals 3 of 3
State: Texas M&A 3 of 5
Country: United States M&A 12 of 25
Year: 2014 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-01 Nokia Solutions and Networks

Espoo, Finland

Nokia Solutions and Networks is a data networking and telecommunications equipment company headquartered in Espoo, Finland. It was formed in 2007 as a joint venture between Siemens and Nokia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-16 Evoqua

Pittsburgh, Pennsylvania, United States

Evoqua provides water and wastewater treatment products, systems, and services for industrial and municipal customers. Its comprehensive, cost-effective, and reliable treatment systems and services reduce fresh water demand, ensure uninterrupted quantity and quality of water, and enable regulatory and environmental compliance. With a wide range of proven product brands and advanced water and wastewater treatment technologies, mobile and emergency water supply solutions, and service contract options, Evoqua helps cities provide clean water and industrial plants to maintain productivity and profitability. Evoqua was founded in 2014 and is based in Pittsburgh, Pennsylvania.

Sell €640M