Published by Global Banking & Finance Review®
Posted on August 29, 2025
1 min readLast updated: January 22, 2026
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Wood Group sells its North American T&D business to Qualus for $110M to reduce debt, amid a takeover bid from Sidara.
(Reuters) -Wood Group has agreed to sell its North American transmission and distribution engineering business to U.S.-based Qualus for $110 million, the British firm said on Friday.
The oilfield services provider, a takeover target of Dubai-based Sidara, has been actively disposing of its non-core businesses to cut debt.
Earlier this week, Sidara lowered its bid for the company and said it will table a firm offer once the preconditions linked to Wood Group's debt are met.
The UK takeover panel extended the bid deadline to August 29 late on Thursday.
Florida-based Qualus is a pure-play power solutions firm focused on modernising and securing the electric grid.
(Reporting by Yamini Kalia in Bengaluru; Editing by Sumana Nandy and Janane Venkatraman)
U.S.-based Qualus is acquiring Wood Group's North American transmission and distribution engineering business.
The sale of Wood Group's North American T&D business is valued at $110 million.
Wood Group is actively disposing of its non-core businesses to cut debt.
Sidara has lowered its bid for Wood Group and plans to submit a firm offer once preconditions linked to Wood Group's debt are met.
Qualus is a pure-play power solutions firm focused on modernizing and securing the electric grid.
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