UK consulting and engineering firm Wood has sold its offshore labour supply operations in the Gulf of Mexico.
Louisiana-based energy services contractor Danos has snapped up the business for a cash consideration of $17m, with Wood retaining working capital.
Wood’s offshore labour supply operations in the Gulf of Mexico contributed around $90m of revenue in 2022. It employs around 700 people.
Danos is a third-generation, family-owned and operated business headquartered in Gray, Louisiana. This is the fourth acquisition for the company since 2014.
