The Gas Turbine Services division of outage and maintenance services specialist John Wood Group has acquired the generator repair and coil manufacturing business and assets of UK electrical generator services company, Rotary Electrical Co for £735 000 in cash, plus further potential payments in 2004 and 2006 of up to £700 000 in total. Rotary Electrical had generator and coil related revenues of approximately £2.5 million for the year ending 31 December 2001. The business has been renamed Wood Group Rotary Electrical Company. ‘This acquisition will enhance the range of services that Wood Group provides to gas turbine operators in the UK, Middle East, North Africa, Eastern Europe and Asia Pacific regions’ said Allister Langlands, Wood Group’s deputy ceo.
The buyout follows Wood Group’s recent acquisition of US-based Industrial Repair Service, Inc, a provider of electrical generator maintenance services to power plant operators throughout the Americas.