Willbros sells its downstream and heater engineering services

Willbros Group, Inc announced today that it has completed the initial transaction of its recently disclosed intention to sell its Professional Services segment. On June 12 Willbros closed the sale of its Downstream Engineering services, based in Baton Rouge, Louisiana, and its Heater Engineering Services, based in Tulsa, Oklahoma, to a group led by Bernhard Capital Partners. The Company is continuing to pursue the sale of the balance of the Professional Services segment, which includes the midstream and mainline engineering operations, the Integrity solutions and technology business, the Land and Survey group, and the Government Services business. The balance of the businesses which remain to be sold includes the Company's legacy engineering operations in Tulsa, acquired in 1981 with the purchase of Butler Associates, Inc., and the technology solutions developed jointly with Google, trademarked as IntegraLink. These remaining businesses constitute the core service offerings of the Professional Services segment. Willbros has retained Greenhill & Co., LLC, to represent the Company and manage the sale process.

The Company noted that there can be no assurance that the decision to offer the segment for sale will result in the Company pursuing a particular transaction or completing any such transaction. The Company has not set a definitive timetable for completion of the process and does not intend to disclose further developments until its Board of Directors approves a specific action.

Sponsor:

News Category:

Company News

Other News Items

Maximizing Performance in Oil & Gas with Real-Time Analytics

(Webinar) - In an industry shaped by fluctuating market conditions and tight operational margins, oil & gas producers are increasingly relying on data-driven strategies ...

11-06-2025
Unlocking the potential of waste for advanced conversion pathways

(Webinar) - This session offers a detailed exploration of HTW® gasification technology, a proven solution for converting diverse feedstocks into clean syngas, which ...

05-06-2025
Zeopore fulfilling first customer orders

Zeopore, a leading innovator in zeolite enhancement technologies for high catalytic performance, proudly announces that its recently commissioned semi-industrial production ...

08-05-2025
Messe Frankfurt and DECHEMA team up for new ACHEMA Middle East

DECHEMA, which organises the ACHEMA, the leading trade show for the global process industry, launches ACHEMA Middle East in Saudi Arabia together with Messe Frankfurt. ...

06-05-2025
ABS and Akselos complete technical assessment for structural digital twin technology

ABS, a global leader in providing classification services for marine and offshore assets, with Akselos S.A., a global leader in structural performance management software; ...

06-05-2025
Sunoco to acquire Parkland

Sunoco LP and Parkland Corporation announced today that they have entered into a definitive agreement whereby Sunoco will acquire all outstanding shares of Parkland in ...

05-05-2025
Mission-critical flow control solutions from Valmet provides next level reliability

Industry-giant Valmet boasts an impressive array of topbrand automated on-off valves, control valves and controllers that are renowned for delivering longterm reliability ...

03-05-2025
MAIRE announces major contract wins

MAIRE announces that its subsidiaries TECNIMONT and KT-Kinetics Technology, also thanks to the technological and engineering services provided by NEXTCHEM, have been ...

29-04-2025
Borouge to boost production capacity

Borouge Plc, a leading petrochemicals company that provides innovative and differentiated polyolefins solutions, has today announced a series of strategic asset expansion ...

28-04-2025
Wanhua Chemical signs JV agreement with Petrochemical Industries Company

On April 25, Wanhua Chemical formally signed a joint venture agreement with Petrochemical Industries Company. Under the terms of the agreement, PIC invested USD ...

27-04-2025