9th Mar 2006 11:54
Wood Group's Mustang Engineering acquires Golbal Performance Holdings Inc Mustang Engineering, L.P. ("Mustang"), part of international energy servicescompany John Wood Group PLC ("Wood Group"), has acquired Global PerformanceHoldings, Inc. ("Global"), an international provider of project management,construction management, and engineering & design services to the chemical,process & industrial sectors. The acquisition is an important step inbroadening Mustang's engineering services, and provides Mustang with access toan additional source of highly experienced and skilled engineeringprofessionals.Global had revenues of $41.2 million for the year ended December 31, 2005, andgross asset value at the year end was $22.5 million. Based in Greenville, SouthCarolina, Global employs approximately 375 personnel and will be a key part ofMustang's dedicated Process & Industrial business unit."Global provides world-class services to its markets, and will broadenMustang's construction management capabilities and experience. Global is a goodcultural fit, with a strong people-oriented environment," stated Steve Knowles,president, Mustang."We look forward to joining Wood Group and Mustang, and are pleased to beassociated with a company with such similar values and company culture asGlobal's. Being able to leverage Wood Group and Mustang's internationalfootprint and presence in the marketplace will provide significantopportunities for growth," said Global Co-founders Dennis Braasch, JayAlexander, Steve Kiker and Rich Koester, who will be part of the businessunit's executive management team.-ends-Notes to EditorsWood Group is an international energy services company with $2.8bn sales,employing more than 16,000 people worldwide and operating in over 40 countries.The Group has three businesses -Engineering & Production Facilities, WellSupport, and Gas Turbine Services-providing a range of engineering, productionsupport, maintenance management and industrial gas turbine overhaul and repairservices to the oil & gas, and power generation industries worldwide.Mustang is an independent services provider to the global oil, gas and chemicalindustries. The company specializes in design, engineering, procurement,project management and construction management. Mustang has offices in Houston,Texas, and nine other cities in the United States, and international offices inLondon and Perth. Mustang completed the acquisition through a Wood Groupsubsidiary.For enquiries please contact -Wood Group:Carolyn Smith, Tel: +44 (0) 1224 851099, e-mail: [email protected] Ireland, Tel: +1 281 828 3505, e-mail: [email protected] Engineering:Dena Lee, Tel: +1 713 215 8000, e-mail: [email protected] GROUP (JOHN) PLCRelated Shares:
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