Wood Group has acquired Swaggart Brothers, a Hermiston-based provider of civil construction and fabrication services to the US oil and gas, industrial and agricultural sectors.
The purchase price is $36.3 million with a further payment in 2017 based on future performance.
With three U.S. locations including Idaho and New Mexico, Swaggart employs approximately 200 personnel. The business’ oil and gas activities cover multiple states and shale basins, including the Permian, Eagle Ford, Niobrara, Bakken, Marcellus and Utica. Swaggart’s capabilities include site works for large civil projects and a range of mechanical and fabrication services.
Swaggart will operate within Wood Group PSN and further expands Wood Group’s civil, concrete, mechanical and fabrication capabilities. The business will continue to be led by its existing management team under Lincoln Swaggart.
“Swaggart aligns with Wood Group PSN’s core values and culture, exemplifying a strong focus on safety, strong customer relationships and high-quality performance,” said Robin Watson, Wood Group PSN CEO. “Bringing Swaggart into the Wood Group family is a testament to their excellent track record in supporting their customers and to their high-quality workforce.”
“We are excited to be joining Wood Group, which we believe will greatly benefit Swaggart’s customers and employees given our combined breadth of service offerings,” Lincoln Swaggart. “We have room for growth in the U.S. shale sector and have the skills and experience to contribute to Wood Group PSN’s oil and gas capability, while also continuing to support our industrial and agricultural customers.”
