Global engineering company Wood Group has expanded its presence in Australia through the acquisition of Perth-based SVT Engineering Consultants.
Global engineering company Wood Group has expanded its presence in Australia through the acquisition of Perth-based SVT Engineering Consultants.
SVT’s 110 staff in Perth and Brisbane will in future operate as part of Wood Group Kenny Australia, which is a major player in the oil and gas sector.
A Wood Group spokesperson said the company would be branded 'SVT Engineering Consultants, a Wood Group company', and this would be reviewed after 12 months.
SVT, which was a winner of Business News’ Rising Stars awards in 2009, was formed to pioneer the application of sound and vibration technology in the Australian resources sector.
Its client base covers the onshore and offshore oil and gas market, as well as the mining, power and utilities sectors.
Stewart Wharton, who has been managing director since 2007, will continue to lead the business.
“Joining Wood Group means we can offer our specialist services to an enhanced global client base and we look forward to being part of the company’s international network,” Mr Wharton said in a statement.
“The depth of expertise Wood Group has in vibration, dynamics and noise, including specialist tools and software for data analytics, will open up new opportunities for our services.”
SVT was founded in 1987 by technical director Michael Norton, who came from a university background, and co-director Paul Keswick, who brought more practical experience to the consultancy.
Professor Norton passed away in 2002, a victim of leukemia, while Dr Keswick has until now continued as chairman.
Wood Group Kenny chief executive Bob MacDonald said SVT built on the company’s asset integrity management service line.
“SVT is a natural strategic fit augmenting, yet broadening, our existing spectrum of specialist technical services to the energy, industrial and renewable markets, where we have an industry leading capability,” he said.
Specifically, the acquisition is another step in Wood Group’s strategy to offer a global vibration, dynamics and noise (VDN) engineering service line.
Wood Group established this service line with the acquisition of Calgary-based BETA Machinery Analysis in June 2015 and has built up its own team in Southampton.
Wood Group is an international energy services company with around $US6 billion in sales and operations in more than 50 countries.
It has three businesses – Wood Group PSN, Wood Group Kenny and Wood Group Mustang.
Its Perth office has won contracts on the Prelude, Browse, Bayu-Undan and Greater Western Flank phase 2 gas projects during the past year.
The terms of the acquisition were not disclosed.
