Jacobs completes £250m purchase of Wood nuclear arm

Aaron Morby 5 years ago
Share

Global engineering giant Jacobs has sealed the £250m purchase of Wood Group’s specialist nuclear operations.

Wood nuclear boss Clive White will head merged business
Wood nuclear boss Clive White will head merged business

The Wood nuclear business designs, delivers and maintains strategic and complex nuclear assets primarily in the UK and brings around 2,000 staff into the Jacob’s business, expanding it to 11,000 staff, mainly in locations across Cheshire and Cumbria.

Jacobs said it now planned to expand the business recruiting 300 to 400 employees into highly-skilled roles over the next year.

Its plans also include investment in the UK’s largest independent nuclear research, development and testing facilities at Birchwood Park, near Warrington to provide capability such as remote handling, cyber, inspection technology and test rig facilities.

Moving forward, Clive White of Wood Nuclear will lead the new combined business as senior vice president of Critical Mission Solutions – International, reporting to Dawne Hickton executive vice president and COO of Critical Mission Solutions.

Leveraging Jacobs’ industry-leading integration approach, a joint Jacobs-Wood Nuclear Integration Management Office has been formed and is working to oversee the integration process, building on the strong cultural foundations of both organisations to maximise the value of the new entity.

In 2018, Wood’s nuclear business pre-tax profit reached £12m with full-year revenue of around £235m and gross assets valued at £383m.

Wood said the sale proceeds would be used to cut debt. The firm originally acquired nuclear engineering and safety consultancy capabilty when it acquired rival Amec Foster Wheeler in 2017.

Jacobs CEO Steve Demetriou, said: “Bringing together Wood Nuclear within Jacobs’ Critical Mission Solutions business provides a powerful platform to support clients’ complex programmes and help accelerate commitments to a more sustainable future.

“With our shared values, technical heritage and global reach, we are combining complementary capabilities to deliver high-value, differentiated nuclear and defence solutions for our clients and greater opportunities for our people across our diverse portfolio.”

 

Latest news

Oxford United win green light for £150m all-electric stadium

Planners back 16,000-seat Kidlington ground with hotel, plaza and community hub
2 days ago

Demolition record as eight cooling towers come down

Watch Brown & Mason set record at Cottam Power Station
3 days ago

Hitachi Energy named for EGL3 converter station deal

Firm to build major HVDC converter stations in Aberdeenshire and West Norfolk
2 days ago

PAS NW secures landmark £20m civils deal in Lancashire

Groundworks firm wins infrastructure for 429-home Wain Homes scheme
2 days ago

Subcontractors wanted for jobs across the South West

Register now for latest Constructionline event in Bristol
2 days ago

Profits double at Octavius as road and rail work grows

Recent acquisitions add to turnover growth at infrastructure specialist
3 days ago

Quarterly construction output growth masks orders slide

New orders down by over 8% driven by fall in infrastructure and offices
3 days ago

Vinci UK swings back into profit after group restructure

£166m cash injected to strengthen building and facilities operations balance sheets
4 days ago

Staged procurement to make comeback as pricing risk bites

Developers turn to staged deals to control costs on big-ticket commercial jobs
3 days ago

McGee profit halves as project start delays hit

Revenue up 24% but profits fall on higher carry costs
3 days ago

Vistry to deliver 2,300 homes at Rugeley power station site

139-acre brownfield site has already been extensively remediated
3 days ago

Andrew Scott wins role on Swansea’s next big office build

Contractor appointed for detailed design of 800-desk city centre hub.
3 days ago

Knights Brown to start £29m Poole flood wall job

1.5km barrier to protect homes and unlock regeneration plans
3 days ago

Kier lands £16m first ECI job with Southern Water

Design deal covers nitrogen cut and UV upgrade at Hampshire wastewater sites
4 days ago

Watkin Jones seals deal on 200-bed student scheme

Bristol project will involve four brick buildings rising to seven storeys
4 days ago

Severfield brings in new CEO from Laing O’Rourke ranks

Everton Stadium job chief Paul McNerney to take the helm in the autumn
4 days ago

Balfour hits 3% construction margin target

Profit target finally reached after eight years
4 days ago

Network Rail launches £240m OLE steelworks framework race

Deal to supply overhead line equipment for electrification schemes
4 days ago

Briefing starts for £8bn highways maintenance shake-up

National Highways launches early talks on next-generation regional roads upkeep
4 days ago

Plant hirer Lynch launches labour supply division

Workers now available to Tier 1 and Tier 2 infrastructure contractors
4 days ago

Kori lands latest £17m care home contract

Work to start on site in south west London next month
5 days ago

£70m Bristol student job finally gets Gateway 2 approval

Student developer Unite to progress two big schemes
5 days ago

Government unveils 10 new construction technical colleges

£100m plan to train 40,000 skilled trades by 2029 gets off the ground
5 days ago

McLaren lands London School of Economics £100m revamp

Central London job will be largest Passivhaus retrofit building in the UK
5 days ago

Industry standards body parts company with chairman

Considerate Constructors Scheme executive chairman also leaves role at Lighthouse Charity
5 days ago

Clegg wins car park to flats conversion contract

Work to start this autumn on transforming multi-storey car park into flats
6 days ago

Go-ahead for major retrofit of former London De Beers office

Mace advised on pre-planning construction plan for Hatton Garden gateway scheme
5 days ago

Danny Sullivan HS2 workers hit-out over agency moves

Site workers unhappy about how TUPE transfers are being handled
6 days ago

Overbury set for major law firm fit-out win

Contractor tipped for 2 Aldermanbury Square win
1 week ago

M&E contractor Cannock goes under

Supply chain takes hit as Staffordshire specialist goes down owing £4m
6 days ago