Wood Group has agreed to acquire The Infinity Group (Infinity), a privately owned Texas Gulf Coast industrial construction and maintenance contractor serving the petrochemical, refining and gas processing sectors, for an initial consideration of $150 million.
Established in 1952, Infinity is headquartered in Clute, Texas, with six additional locations along the Texas Gulf Coast.
Infinity provides a range of services including mechanical construction, fabrication, project management, turnarounds, maintenance services, heavy civil works, site preparation, and electrical and instrumentation services. The existing management team will continue to lead the business, which has approximately 2,500 personnel. Infinity currently has gross assets of around $92m and is forecast to generate EBITA of $26m in 2015.