Wood Group enhances U.S. shale exposure with Elkhorn acquisition
HOUSTON -- Wood Group has agreed to acquire Elkhorn Holdings Inc., a Wyoming-based provider of construction services for midstream oil & gas facilities in the U.S. shale market.
Elkhorn provides infrastructure-related services such as pipeline and facility maintenance, instrumentation and electrical, civil and mechanical construction, and fabrication to oil & gas and petrochemical companies. Elkhorn, which generated sales of approximately $250 million in 2012, is headquartered in Evanston, Wyoming, and has approximately 2,200 personnel. Elkhorn operates from 11 locations across the Niobrara, Permian, Marcellus and Utica shale regions.
Elkhorn will operate within Wood Group PSN and further develops Wood Group's U.S. shale business. Elkhorn will continue to be led by its existing management team under CEO Sean Sullivan.
The transaction is subject to a number of conditions, including anti-trust approval in the US, and completion is expected in late 2013.