Energy services provider Wood Group has hit the acquisition trail again with the takeover of an Australian engineering business.
Aberdeen-based Wood said the purchase of SVT Engineering Consultants (SVT) marked a “significant step” for the Scots company in providing a global vibration, dynamics and noise engineering service line.
SVT, a privately-owned company with its headquarters in Perth, provides piping and rotating equipment vibration, noise, integrity engineering and asset integrity services.
The company was formed to pioneer the application of sound and vibration technology in the Australian resources sector. SVT’s client base now covers the onshore and offshore oil and gas market including liquefied natural gas, as well as the mining, power and utilities sectors.
The value of the acquisition – the latest in a string undertaken by Wood Group – was not disclosed.
Managing director Stewart Wharton will continue to lead the 110-strong team of personnel across SVT’s offices in Perth and Brisbane and the business will operate within the Wood Group Kenny division.
Bob MacDonald, chief executive of Wood Group Kenny, said: “Australia is one of the world’s largest producers and exporters of minerals and is on the cusp of becoming the world’s largest LNG producer.
“SVT builds on our asset integrity management service line as part of our strategy to enhance our vibration, dynamics and noise capability to support the operational phase of Australia’s LNG and mining infrastructure for decades to come. SVT is a natural strategic fit augmenting, yet broadening, our existing spectrum of specialist technical services to the energy, industrial and renewable markets, where we have an industry leading capability.”
Wharton added: “Joining Wood Group means we can offer our specialist services to an enhanced global client base and we look forward to being part of the company’s international network.
“The depth of expertise Wood Group has in vibration, dynamics and noise, including specialist tools and software for data analytics, will open up new opportunities for our services.
“We are focused on solving difficult problems in the oil and gas, mining and utilities sectors and we share Wood Group’s culture and values which strongly emphasise safety.”