Kaefer completed the acquisition of the industrial services business of John Wood Group for $118m.

Kaefer, a technical services provider, completed the acquisition of the industrial services business of John Wood Group, a multinational energy services company, for $118m. "The sale of our industrial services business is the latest divestment aimed at maintaining our strong balance sheet and achieving our target leverage. As our focus has moved towards building a premium, differentiated and higher-margin business, the industrial services offering is no longer core to our strategy. However, it is an excellent fit with Kaefer who see a clear opportunity to grow the business further and extend its market share across new sectors and geographies," David Kemp, John Wood CFO.