Wood Group Acquisitions Commence

Mustang Engineering, L.P. ("Mustang"), part of international energy services company John Wood Group PLC ("Wood Group"), has acquired Global Performance Holdings, Inc. ("Global"), an international provider of project management, construction management, and engineering & design services to the chemical, process & industrial sectors. The acquisition is reported to be an important step in broadening Mustang's engineering services, and provides Mustang with access to an additional source of highly experienced and skilled engineering professionals.

Global had revenues of $41.2 million for the year ended December 31, 2005, and gross asset value at the year end was $22.5 million. Based in Greenville, South Carolina, Global employs approximately 375 personnel and will be a key part of Mustang's dedicated Process & Industrial business unit.

"Global provides world-class services to its markets, and will broaden Mustang's construction management capabilities and experience. Global is a good cultural fit, with a strong people-oriented environment," stated Steve Knowles, president, Mustang.

"We look forward to joining Wood Group and Mustang, and are pleased to be associated with a company with such similar values and company culture as Global's. Being able to leverage Wood Group and Mustang's international footprint and presence in the marketplace will provide significant opportunities for growth," said Global Co-founders Dennis Braasch, Jay Alexander, Steve Kiker and Rich Koester, who will be part of the business unit's executive management team.

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Posted 10/03/06

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