Wood Group to acquire US company Infinity Group

UK-based Wood Group will acquire the US-based industrial construction and maintenance contractor Infinity Group for $150m.

Following the acquisition, Infinity will operate within the Wood Group PSN Americas business unit, creating a brownfield service offering to the downstream market.

These services will complement the existing Wood Group PSN Australia Asia Pacific services within the refining, chemicals and LNG sectors.

In partnership with Wood Group Mustang, the acquisition is also expected to offer an opportunity to offer a turnkey design and construct industrial service offering.

Wood Group PSN CEO Dave Stewart said: "The addition of The Infinity Group gives Wood Group PSN service line expansion, sector diversification, and entry into the US petrochemical and other downstream sectors, coupled with access to new clientele.

"Their 60-year history is a testament to the relationships they have built that we look forward to continuing and growing."

Infinity Construction Services president Harold Monical, Jr said: "Joining Wood Group allows us to expand our service offering to their diverse customer base and gives us exposure to larger scale projects while also continuing to serve our current market and clients."

The transaction is subject to US anti-trust approval and is set to complete in late 2015.

Infinity has six additional locations along the Texas Gulf Coast and offers services including mechanical construction, fabrication and project management, among others.