Wood Group has boosted its Norwegian offshore engineering capability by buying Agility Projects from Agility Group for about US$164 million.
Agility Projects is a Norwegian engineering, procurement, construction management, installation and commissioning company, based in Sandefjord, near Oslo.
The firm has about 650 staff with operations in Oslo, Stavanger, Bergen, Moss and an engineering office in Shanghai, China.
Agility Projects will operate within Wood Group Mustang's offshore business and will be led by the current Agility Group CEO, Otto Søberg, and the existing Agility Projects management team.
Steve Knowles, chief executive officer of Wood Group Mustang, said: "Agility Projects complements Wood Group's existing engineering activities in Norway and recently we successfully collaborated in winning the Ivar Aasen topside engineering project in Norway."
The transaction is subject to a number of conditions, including competition approval in Norway, and completion is expected in Q3 2014.
