United Kingdom-based Wood Group said it will buy the Houston area’s The Infinity Group industrial construction firm for $150 million.
Wood Group, which has a major Houston presence, said Infinity will operate within its division serving construction and maintenance projects for the refining and petrochemical sectors.
Privately-owned Infinity was founded in 1952 and is headquartered south of Houston in Clute, but the company also operates in La Porte along the Houston Ship Channel. Infinity’s management team and 2,500 employees will be maintained under the Wood Group umbrella. Infinity also can collaborate on projects with its Houston-based Wood Group Mustang division, the energy engineering and construction giant said.
Wood Goup said it expects to grow Infinity from the Gulf Coast to service projects in neighboring U.S. markets.
“The addition of The Infinity Group gives Wood Group PSN service line expansion, sector diversification, and entry into the U.S. petrochemical and other downstream sectors, coupled with access to new clientele,” Wood Group PSN CEO Dave Stewart said in the announcement. “Their 60-year history is a testament to the relationships they have built that we look forward to continuing and growing.”
In a statement, Infinity Construction Services President Harold Monical Jr. said the deal for Wood Group will help grow the Infinity business.
“Joining Wood Group allows us to expand our service offering to their diverse customer base and gives us exposure to larger scale projects while also continuing to serve our current market and clients,” Monical added.
The deal is expected to be finalized by the end of December. Apart from Monical’s construction business, Infinity’s brands include Infinity Maintenance Services, Brazos M&E and United Electrical & Instrumentation.
