International energy consultancy Xodus Group, has agreed terms for a major new injection of equity from funds sponsored by Chiyoda Corporation, an integrated engineering contractor specialising in the onshore middle/downstream sector of the oil and gas industry.

Chiyoda acquired majority shares in Xodus Group from the previous investors, Simmons Parallel Private L.P. and Sunrise Xodus B.V. The financial figures relating to this deal cannot be disclosed.

Colin Manson, CEO of Xodus Group said there are exciting times ahead. “The combination of Xodus and Chiyoda will bring synergies and benefits to both companies. Each will maintain their own core identities including vision, culture and people, however, when needed we can work together to deliver an integration of services from front-end service through to detailed engineering, procurement and construction service. With Xodus’ strength in Europe and our global aspirations, combined with a more structured approach to business development activities, while utilising Chiyoda’s global network and industry experience throughout Asia Pacific, Middle East and South America, means we will be in a truly remarkable position moving forward.”

Tags: Xodus Group