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Danos completed the acquisition of the offshore labour supply operations in Gulf of Mexico from John Wood Group for $17m.

Financials

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Transaction Value£14m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales0.2x
EV/EBITDA4.86x
Share Price Premium-
One Off Charge-

Tags

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Completed

Acquisition

United States

Energy / Utility Services

Single Bidder

Majority

Domestic

energy services

Private

Friendly

Synopsis

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Danos, a Louisiana-based energy services contractor, completed the acquisition of the offshore labour supply operations in Gulf of Mexico from John Wood Group, a British multinational engineering and consulting business, for $17m. "This divestment signals the proactive steps we're taking to selectively high grade the Group's portfolio and invest in the markets and solutions where we see the strongest profitable growth. This is aligned to the strategy we set out in November 2022. Wood is committed to the USA with the Gulf of Mexico remaining an important region for our offshore consulting, capital projects and brownfield engineering businesses," Ken Gilmartin, Wood CEO.

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