Jacobs Closes $325M Acquisition of Wood's Nuclear Business; Steve Demetriou Quoted

Jacobs (NYSE: J) has finalized its acquisition of John Wood Group’s nuclear business for approximately $325M in cash as part of efforts to improve its position as a provider of nuclear lifecycle services and technology-based platforms.

Steve Demetriou, chair and CEO of Jacobs, said in a statement published Monday the company will integrate Wood Nuclear into its critical mission solutions business and combine complementary capabilities to deliver nuclear and defense platforms to clients.

Clive White of Wood Nuclear will directly report to Dawne Hickton, executive vice president and chief operating officer of Jacobs’ critical mission solutions, as senior VP of CMS-international division.

Pete Lutwyche, a Jacobs SVP, will oversee the newly created Jacobs-Wood Nuclear integration management office and implement supporting initiatives.

Jacobs will absorb Wood Nuclear’s more than 2K employees as a result of the transaction with plans to hire 300 to 400 additional personnel over the next year. The company also intends to invest in nuclear testing, research and development facilities at Birchwood Park in the U.K. to provide inspection technology, remote handling and cyber capabilities.

Jacobs initially announced the transaction in August. The company expects the deal to expand its technical capabilities in clean energy, environmental restoration and nuclear decommissioning and clean-up areas.

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