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UK's Wood Group to sell North American T&D business for $110 million

Published by Global Banking & Finance Review

Posted on August 29, 2025

1 min read

· Last updated: August 29, 2025

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Wood Group Sells North American T&D Business to Qualus for $110M

(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)

Key Takeaways

  • Wood Group sells T&D business to Qualus for $110 million.
  • The sale is part of Wood Group's debt reduction strategy.
  • Sidara has shown takeover interest in Wood Group.
  • Qualus focuses on modernizing the electric grid.
  • UK takeover panel extends Sidara's bid deadline.

Frequently Asked Questions

Who is acquiring Wood Group's North American T&D business?
U.S.-based Qualus is acquiring Wood Group's North American transmission and distribution engineering business.
How much is the sale of the T&D business worth?
The sale of Wood Group's North American T&D business is valued at $110 million.
Why is Wood Group selling its non-core businesses?
Wood Group is actively disposing of its non-core businesses to cut debt.
What is the status of Sidara's bid for Wood Group?
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.
What type of company is Qualus?
Qualus is a pure-play power solutions firm focused on modernizing and securing the electric grid.

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