Wood Group acquisition of BETA Machinery Analysis strengthens
integrity management capabilities
CALGARY, June 30, 2015 - Wood Group has acquired BETA
Machinery Analysis (BETA), a Calgary-based engineering consultancy
specializing in advanced vibration analysis in a deal valued at
US$14.3 million.
BETA’s expertise in advanced vibration, pulsation stress and
dynamic analysis of piping systems and machinery during the design
and production phases are key elements in integrity management and
strengthen Wood Group’s capabilities. These services can be applied
to field troubleshooting, monitoring and inspection of both
greenfield and brownfield assets throughout the upstream, midstream
and downstream oil and gas market. BETA’s current focus is the
topsides, utilities, refineries and facilities (TURF) sector.
BETA employs approximately 100 personnel across their
Canada, U.S., China and Malaysia locations and will continue to be led
by its existing management team under Russ
Barss, BETA president.
With 48 years in the industry, BETA’s service offering is highly
complementary to Wood Group Kenny, as well as Wood Group PSN and
Wood Group Mustang, with its services easily transferrable to the
subsea umbilicals, risers and flowlines (SURF) sector.
The engineering consultancy will operate under Wood Group Kenny,
specifically within the Wood Group Integrity Management business,
further enhancing Wood Group Kenny’s existing capabilities to
provide an all-of-facility integrity management service to both
Wood Group’s and BETA’s client base.
Bob MacDonald, Wood Group Kenny
CEO, said, “BETA complements our existing services globally,
providing service line expansion further enhancing Wood Group
Kenny’s integrity management capabilities. Wood Group and BETA are
an excellent fit both operationally and culturally fostered from a
partnership from past project experience.”
Barss added, “We are very excited about joining Wood Group and
believe with the support and strength of Wood Group, we can provide
an enhanced global breadth of service to our customers. We are well
aligned culturally, and our values are one and the same where
safety, quality and integrity are major priorities.”
-ends-
Notes to Editors
Wood Group is an international energy services company
with more than $7 billion sales and
operating in more than 50 countries. The Group is built on Core
Values and has three businesses – Wood Group PSN, Wood Group Kenny
and Wood Group Mustang – providing a range of engineering,
production support and maintenance management services to the oil
and gas and power generation industries worldwide.
www.woodgroup.com
Wood Group Kenny is the world's largest independent
specialist subsea, pipeline and riser engineering and management
contractor, part of international energy services company Wood
Group.
Wood Group’s Integrity Management business is a lifecycle
application relevant to all phases of an asset's life. Integrity is
a holistic requirement defined by strategies, procedures and
management systems that will ensure the safe, cost-effective and
reliable operation of an asset. The business has led the
development and delivery of integrity management systems for many
leading onshore and offshore facilities worldwide.
www.woodgroupkenny.com
BETA Machinery Analysis is a global engineering
consultancy headquartered in Calgary,
Canada, specializing in advanced vibration analysis and
field troubleshooting for the energy industry.
www.betamachinery.com
Media Contact
press.office@woodgroup.com
UK +44 1224 851099
US +1 281 828 3508
Investor/Analyst Inquiries
Andrew Rose, Wood Group Group Head
of Investor Relations
andrew.rose@woodgroup.com
+44 1224 532716