US-based technical professional services firm Jacobs has closed the acquisition of John Wood Group’s nuclear business for an enterprise value of £250m on a debt-free, cash-free basis.
Wood Nuclear, which employs over 2,000 people, offers solutions that span the entire life cycle of the nuclear industry.
The firm offers programme management technical and consulting services in areas such as decommissioning, nuclear new build and operational support in the civil nuclear and defense segments.
The acquisition is expected to enhance Jacobs’ capabilities in offering total lifecycle nuclear services and technology-enabled solutions.
It also allows Jacobs to provide strategic support to mission-critical defence and clean energy priorities, nuclear clean-up and decommissioning, environmental restoration and operational support for its clients.
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, respond to unprecedented changes in the many sectors and geographies where we work and help accelerate commitments to a more sustainable future.
“With our shared values, technical heritage and global reach, we are combining complementary capabilities to deliver high value, differentiated nuclear and defense solutions for our clients and greater opportunities for our people across our diverse portfolio.”
The deal expands Jacobs’ UK employee base to nearly 11,000
Jacobs said that it has formed a joint Jacobs-Wood Nuclear Integration Management Office (IMO) and is working to oversee the integration process.
In addition to increasing employee base to nearly 11,000 in the UK, the deal expands Jacobs’ reach into Europe, Japan, the Middle East, South Africa and the US.
Jacobs is planning to recruit 300 to 400 employees into over the next year.
Additionally, the firm is planning to invest in the UK’s largest independent nuclear research, development and testing facilities at Birchwood Park, near Warrington.
