Jacobs snaps up Wood’s nuclear business for £250m
March 10, 2020 – Acquisition adds 2,000 staff to US firm’s UK workforce
Jacobs has snapped up Wood Nuclear, the nuclear services arm of Scottish energy giant John Wood Group, for £250m.
Adding 2,000 staff to its workforce, the purchase brings Jacobs’ UK employee base to nearly 11,000 with plans to recruit up to 400 extra skilled staff.
Wood Nuclear’s president Clive White will swap his former role for senior vice president of Jacob’s aerospace, tech and nuclear business Critical Mission Solutions, reporting to executive vice president Dawne Hickton.
Jacobs’ senior vice president Pete Lutwyche will be heading up an Integration Management Office overseeing the merging of the two businesses.
Jacobs also said that it plans to continue investing in Birchwood Park in Cheshire, the UK’s largest independent nuclear research, development and testing centre.
Jacobs chair and CEO Steve Demetriou said: “Bringing together Wood Nuclear within Jacobs’ Critical Mission Solutions business provides a powerful platform to support clients’ complex programs.”
Wood said the sale proceeds would be used to cut debt. The firm originally acquired business when it acquired rival Amec Foster Wheeler in 2017.