Wood Group acquires specialist coating company
HOUSTON -- Wood Group has announced the acquisition of Pyeroy Group, a provider of specialist coatings, access and fabric maintenance services to the oil & gas, marine and rail industries.
Headquartered in Gateshead, UK, Pyeroy was founded in 1973 and employs approximately 1,800 personnel at eight locations throughout the UK and Ireland.
Pyeroy generated revenue and EBITA of £88.9m and £4.6m for the year ended 31 December 2012. Pyeroy will continue to be led by Hugh Pelham, managing director, and will operate within the Wood Group PSN division.
Pyeroy's complementary range of services extends Wood Group PSN's existing range of offshore brownfield engineering & construction, operations & maintenance and decommissioning services.