Sidara has completed the acquisition of Wood, a consulting, engineering and operations firm for energy and materials, the company has announced.
The transaction marks a milestone for Sidara and advances its long-term strategic ambition to expand and elevate its energy offering to clients worldwide. Going forward, Wood will retain its own brand and continue operating as a standalone business, while benefiting from Sidara’s global scale and long-term owner-operator mindset.
With Wood’s complementary capabilities and technical expertise — including in digital and decarbonisation technologies — Sidara is positioned at the forefront of the global energy sector. Together, the group will deliver the energy security solutions communities need today, while accelerating the transition to clean energy and decarbonised infrastructure, the firm added.
Sidara continues to operate through a five-pillar model, comprising: Dar (multidisciplinary); Wood (energy and materials); Perkins & Will (design and architecture); TYLin (infrastructure), and Currie & Brown (project management and consultancy).
This model enables Sidara to serve clients worldwide, on some of their most complex and critical projects. It also empowers Sidara companies to deliver value across the full lifecycle of strategic projects, from planning and design through to project management, handover and facilities management, the company said.
With Wood joining the group, Sidara’s global collaborative now brings together more than 55,000 professionals.
The combined group generates over $8.5bn in revenue across all geographies, with approximately 40% in North America and 20% in each of Europe, the Middle East and Africa, and Asia Pacific.
Talal Shair, Chairman and CEO of Sidara said, “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.”
He added, “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.”
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Source: MEConstructionNews
