Wood Group acquires Pyeroy Group Limited

3 July, 2013 Wood Group acquires Pyeroy Group Limited Wood Group announces the acquisition of Pyeroy Group Limited ("Pyeroy"), aprovider of specialist coatings, access and fabric maintenance services to theoil & gas, marine and rail industries. Headquartered in Gateshead, UK, Pyeroywas founded in 1973 and employs approximately 1,800 personnel at eightlocations throughout the UK and Ireland. Pyeroy generated revenue and EBITA of £88.9m and £4.6m for the year ended 31December 2012. Pyeroy will continue to be led by Hugh Pelham, managingdirector, and will operate within the Wood Group PSN division. Pyeroy has an excellent track record of growth and delivery of key noteprojects. Their complementary range of services extends Wood Group PSN'sexisting range of offshore brownfield engineering & construction, operations &maintenance and decommissioning services. Robin Watson, CEO of Wood Group PSN said: "Pyeroy has an excellent track recordof supporting the operational needs of major oil & gas, marine, and railcustomers and has a high quality, highly trained workforce. The acquisition ofPyeroy marks a strategic move into specialist coatings, access services andfabric maintenance which broadens our service offering to oil & gas customers.These services are particularly relevant for extending the life of existinginfrastructure, and for decommissioning projects. As an example Pyeroy'sexpertise on the Forth Rail Bridge refurbishment can be transferred into theoil & gas sector." "The fit is ideal, strategically," said Hugh Pelham. "We have room for growthin the oil & gas sector and we also have the skills and experience tocomplement Wood Group PSN's oil & gas capability. We believe that joining WoodGroup will enable us to offer a broader service offering to our customers. Wewill be joining a Group that shares our commitment to safety and provides thehighest quality service to our customers." - Ends - Notes to editors: Wood Group is an international energy services company with around $7bn sales,employing around 43,000 people worldwide and operating in 50 countries. We havethree businesses - Wood Group Engineering, Wood Group PSN and Wood Group GTS -providing a range of engineering, production support, maintenance managementand industrial gas turbine overhaul and repair services to the oil & gas, andpower generation industries worldwide. www.woodgroup.com Wood Group PSN is a global provider of pre-operations, hook up & commissioning,operations & maintenance, engineering, construction, project management,training and decommissioning services to the energy industry. Employing over29,000 people in more than 40 countries, Wood Group PSN offers high integrity,brownfield services that support customers to optimise performance, maintainproduction, reduce operating costs and provide integrity assurance.www.woodgroup-psn.com Pyeroy is a privately owned, specialist coatings and access service contractor,established in 1973 and currently employing more than 1,800 personnel in eightlocations in the UK and Ireland. Headquartered in Gateshead, an Aberdeen officewas established this year to support its renewables, offshore infrastructureand oil & gas activities. For further information contact: Carolyn Smith, Corporate Communications - Eastern HemisphereTel: +44 (0) 1224 851099, email: [email protected] For investor and analyst enquiries: Nick Gilman, Head of Investor Relations & Corporate Communications, Wood GroupTel: +44 (0) 1224 851404, email: [email protected]