Energy services giant Wood Group has bought over Canadian pipeline engineering firm Sunstone Projects in a $13.1million (£7.8million) deal as it looks to strengthen its position in the country.
The Calgary consultancy, providing engineering, procurement and construction management (EPCM) services to the Canadian oil and gas industry, will be rebranded as Wood Group Mustang but remain under the current management of president Barry Bauhuis.
It is said to have generated sales of $19million last year.
“The Canadian pipeline system is expected to expand to ensure access to markets for oil and gas produced in Western Canada. The acquisition of Sunstone will strengthen our ability to
provide our clients with services in this area,” said Steve Knowles, president of Wood Group Mustang.
“Sunstone’s capability and geographic presence are complementary to Wood Group Mustang’s existing pipeline business.
“Sunstone has an excellent reputation for pipeline project execution and will be an important part of our Canadian growth strategy.”