Dubai-based Sidara, a global engineering and consulting group, has formally concluded its £240 million acquisition of Wood Group, the Aberdeen-headquartered engineering and consulting firm. This strategic move aims to significantly enhance Sidara’s presence within the global energy and materials sectors, marking it as a “transformational milestone” for the acquiring company.
Following the completion of the takeover, Wood Group will continue to operate under its established brand as a standalone business unit within the broader Sidara group. This approach is intended to leverage Wood’s globally recognised reputation and technical expertise while benefiting from Sidara’s international scale and long-term investment strategy.
The acquisition, which Sidara has described as the “most ambitious venture” in its history, is a key component of its long-term strategy to expand its energy offering. Wood’s capabilities, particularly in digital and decarbonisation technologies, are expected to strengthen the combined entity’s ability to deliver energy security solutions and accelerate the transition towards lower-carbon infrastructure globally.
As a result of the acquisition, trading in Wood Group shares on the London Stock Exchange was suspended, with the company’s listing formally cancelled. Shareholders who were on the register at 6 pm on 9 March are due to receive 30 pence in cash for each share held, with payments expected to be issued within 14 days of the transaction becoming effective.
The integration of Wood into Sidara creates a formidable global enterprise. The combined group will boast a workforce exceeding 55,000 professionals worldwide and is projected to generate over $8.5 billion in annual revenue across all its operational regions.
Talal Shair, Chairman and Chief Executive of Sidara, underscored the strategic importance of the deal. He stated: “Acquiring Wood is without a doubt the most ambitious venture in the history of Sidara, driving forward a long-term critical strategy of expanding and elevating our energy offering. Together with Wood, our people will be empowered to have far greater impact in two of the defining sectors of our time: energy and materials.”
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Shair further elaborated on the timing and broader implications of the partnership:
“This partnership comes at a historic moment. Accelerating the energy transition and establishing a sustainable supply of the raw materials that will shape our future has never been more critical than it is today. By providing a solid foundation and long-term strategic backing for Wood, Sidara will be uniquely positioned to deliver innovative, industry-leading solutions for clients in these critical sectors and beyond.”
The transaction was executed through a court-sanctioned scheme of arrangement under the Companies Act, a standard legal mechanism for such takeovers in the UK. This acquisition positions Wood as Sidara’s dedicated “Energy and Materials” pillar, aligning with Sidara’s existing five-pillar model which includes Dar (Multidisciplinary), Perkins & Will (Design and Architecture), TYLin (Infrastructure), and Currie & Brown (Project Management and Consultancy).
