United Infrastructure will add to its power portfolio with the acquisition of UK transmission and distribution engineering business of John Wood Group
John Wood Group will be the latest acquisition by United Infrastructure after a year of expansion in the power utilities sector.
United Infrastructure acquired Jones Lighting in March of this year, followed by Glenelly Infrastructure Solutions in the summer.
A deal has been agreed for the transmission and distribution business, which supports distribution network operators (DNOs) with relevant services. The deal is expected to pass regulatory checks by the end of this year.
John Wood Group confirmed the sale was for £57.5m, which will be put towards net debt and “general corporate purposes”.
Iain Torrens, CEO of Wood, commented:
“The divestment of UK T&D to United Infrastructure represents another important step in simplifying Wood’s portfolio and sharpening our strategic focus. This transaction advances our disposal programme beyond original expectations and takes total proceeds agreed this year to approximately $345m.”
“With shared clients and aligned values, United Infrastructure is a strong strategic fit and will ensure the continued success of UK T&D and its talented people.”
Neil Armstrong, chairman and chief executive of United Infrastructure, said:
“The acquisition of Wood’s UK transmission and distribution business marks a significant milestone for United Infrastructure. It strengthens our expertise across the entire power value chain and reinforces our mission to drive the transition toward a sustainable, resilient energy future.
This addition brings exceptional technical capabilities and expanded geographic reach, positioning United Infrastructure to play an even greater role in supporting the UK’s energy transition. It perfectly aligns with our strategy to grow in critical national infrastructure and with our unwavering commitment to delivering excellence for our clients and the communities we serve.”*
