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09/03/2020
Wood Nuclear Sold In £250m Deal
UK company John Wood Group has sold its nuclear business to American engineering giant Jacobs in a £250 million deal.
The firm, headquartered in Aberdeen, completed the deal for Wood Nuclear, bringing more than 2,000 employees into Jacobs' business and expanding its UK employee base to nearly 11,000.
This deal will enhance Jacobs' credentials as a global leader of total lifecycle nuclear services and technology-enabled solutions, providing strategic support to clients' mission-critical defense and clean energy priorities, nuclear clean-up and decommissioning, environmental restoration and operational support.
"Bringing together Wood Nuclear within Jacobs' Critical Mission Solutions business provides a powerful platform to support clients' complex programs, respond to unprecedented changes in the many sectors and geographies where we work and help accelerate commitments to a more sustainable future," said Jacobs Chair and CEO Steve Demetriou. "With our shared values, technical heritage and global reach, we are combining complementary capabilities to deliver high value, differentiated nuclear and defence solutions for our clients and greater opportunities for our people across our diverse portfolio."
Clive White of Wood Nuclear will lead the new combined business as Senior Vice President Critical Mission Solutions – International (CMS-I), reporting to Dawne Hickton Executive Vice President and COO of Critical Mission Solutions.
Leveraging Jacobs' industry leading integration approach, a joint Jacobs-Wood Nuclear Integration Management Office (IMO) has been formed and is working to oversee the integration process, building on the strong cultural foundations of both organisations to maximise the value of the new entity.
(CM/MH)
The firm, headquartered in Aberdeen, completed the deal for Wood Nuclear, bringing more than 2,000 employees into Jacobs' business and expanding its UK employee base to nearly 11,000.
This deal will enhance Jacobs' credentials as a global leader of total lifecycle nuclear services and technology-enabled solutions, providing strategic support to clients' mission-critical defense and clean energy priorities, nuclear clean-up and decommissioning, environmental restoration and operational support.
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"Bringing together Wood Nuclear within Jacobs' Critical Mission Solutions business provides a powerful platform to support clients' complex programs, respond to unprecedented changes in the many sectors and geographies where we work and help accelerate commitments to a more sustainable future," said Jacobs Chair and CEO Steve Demetriou. "With our shared values, technical heritage and global reach, we are combining complementary capabilities to deliver high value, differentiated nuclear and defence solutions for our clients and greater opportunities for our people across our diverse portfolio."
Clive White of Wood Nuclear will lead the new combined business as Senior Vice President Critical Mission Solutions – International (CMS-I), reporting to Dawne Hickton Executive Vice President and COO of Critical Mission Solutions.
Leveraging Jacobs' industry leading integration approach, a joint Jacobs-Wood Nuclear Integration Management Office (IMO) has been formed and is working to oversee the integration process, building on the strong cultural foundations of both organisations to maximise the value of the new entity.
(CM/MH)
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