GRAY, La. – Louisiana-based energy services company Danos has announced the acquisition of offshore labor supply operations in the Gulf of Mexico from Wood, a multinational engineering and consulting company headquartered in Scotland.
Wood reported a sale price of $17 million.
“We have been in the people business for 76 years,” said Eric Danos, CEO of Danos Ventures, in a press release. “Providing highly skilled personnel to build, maintain and operate our customers’ assets safely is what we do. And we’re excited that this recent acquisition expands our ability to do that.”
Danos is a third-generation, family-owned business headquartered in Gray, Louisiana. The company’s 2,700 employees serve nearly 175 customers across 21 states and the Gulf of Mexico.
This is the fourth acquisition for the company since 2014.
“We are actively seeking more acquisitions in the energy sector that increase our ability to service our customers and provide career development opportunities for our employees,” said Danos.
Wood said its offshore labor supply operations in the Gulf contributed around $90 million of revenue in 2022 and employed around 700 people.
“This divestment signals the proactive steps we’re taking to selectively high grade the group’s portfolio and invest in the markets and solutions where we see the strongest profitable growth,” said Ken Gilmartin, Wood’s CEO. “This is aligned to the strategy we set out in November 2022. Wood is committed to the USA with the Gulf of Mexico remaining an important region for our offshore consulting, capital projects and brownfield engineering businesses.”
Wood is listed on the London Stock Exchange.
