Wood Group (John) PLC Wood completes sale of EthosEnergy for $138M
2025年1月2日 - 4:00PM
RNS Regulatory News
RNS Number : 8129R
Wood Group (John) PLC
02 January 2025
Wood Group (John) PLC
02 January 2025
Wood completes sale of
EthosEnergy for $138 million
John Wood Group PLC ('Wood' or
'the Company') has
completed the sale of its stake in Ethos
Energy Group Limited ('EthosEnergy'), a joint venture focused on
rotating equipment.
Wood has completed the sale to One
Equity Partners for a final net cash consideration of $138 million,
with $42 million of prior planned loan notes replaced by an
additional cash consideration at completion.
Ken Gilmartin, CEO of Wood,
said:
"We are pleased to complete the sale
of EthosEnergy to One Equity Partners. This strategic divestment is
part of our strategy to be selective and focused on our core
business. We will continue to align our portfolio as part of our
commitment to simplify Wood."
About EthosEnergy sale
Wood owned 51% of the EthosEnergy
joint venture with its partner, Siemens Energy AG. An agreement by
both parties was reached to sell the complete business to private
equity firm, One Equity Partners on August 28, 2024 with the deal
completed December 31, 2024.
EthosEnergy currently employs c.3,600
people globally and contributed $34 million of adjusted EBITDA to
Wood's results (per Wood definition) in 2023, with no revenue
recognised in Wood's results.
EthosEnergy was part of Wood's
Investment Services business unit.
For
further information:
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Simon McGough, President, Investor
Relations
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+44 (0) 7850 978 741
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Alex Le May / Ariadna Peretz, FTI
Consulting
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+44 (0)20 3727 1340
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FTI_Wood@FTIconsulting.com
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Note to Editors:
Wood is a global leader in
consulting and engineering, delivering critical solutions across
energy and materials markets. We provide consulting, projects and
operations solutions in 60 countries, employing around 35,000
people. www.woodplc.com
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Wood Group (john) (LSE:WG.)
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