In a deal which amounts to approximately US$14.3 million, Wood Group has acquired BETA Machinery Analysis (BETA). BETA is a Calgary-based engineering consultancy that specialises in advanced vibration analysis.
Significantly strengthening Wood Group’s capabilities
The deal will allow Wood Group to benefit from BETA’s expertise in vibration, pulsation stress and dynamic analysis of piping systems and machinery during the design and production phases. This knowledge will be useful when applied to field troubleshooting, and the monitoring and inspection of both greenfield and brownfield assets throughout the upstream, midstream and downstream oil and gas market. The result of this deal will significantly strengthen Wood Group’s capabilities and integrity management.
BETA comes with 48 years of service experience within the industry. Its services and knowledge is easily transferrable and highly valuable to the subsea umbilicals, risers and flowlines sector. Thus, the organisation will be highly complementary to Wood Group Kenny, as well as Wood Group PSN and Wood Group Mustang.
The engineering consultancy will operate under Wood Group Kenny, specifically within the Wood Group Integrity Management business. Ultimately, this will further enhance Wood Group Kenny’s existing capabilities to provide an all-of-facility integrity management service to clients of both Wood Group and BETA.
Approximately 100 personnel are currently employed in BETA locations across Canada, US, China and Malaysia. These employees will continue to be led by BETAs existing management team.
Comment from Wood Group
Bob MacDonald, CEO of Wood Group Kenny, said: “BETA complements our existing services globally, providing service line expansion further enhancing Wood Group Kenny’s integrity management capabilities. Wood Group and BETA are an excellent fit both operationally and culturally fostered from a partnership from past project experience.”
Comment from BETA Machinery Analysis
Russ Barss, President of BETA, added: “We are very excited about joining Wood Group and believe with the support and strength of Wood Group, we can provide an enhanced global breadth of service to our customers. We are well aligned culturally, and our values are one and the same where safety, quality and integrity are major priorities.”
Edited from source by Elizabeth Corner
Read the article online at: https://www.worldpipelines.com/equipment-and-safety/30062015/wood-group-acquires-beta-machinery-analysis/