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Jacobs Completes $325M Acquisition of Wood Nuclear Business to Power Innovation in Global Nuclear Asset Lifecycle; Steve Demetriou Quoted

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Jacobs has acquired Wood Nuclear business for an enterprise value of approximately $325 million to enhance its total lifecycle nuclear services and technology-enabled solutions, the company announced on Monday

"Bringing together Wood Nuclear within Jacobs' Critical Mission Solutions business provides a powerful platform to support clients' complex programs, respond to unprecedented changes in the many sectors and geographies where we work and help accelerate commitments to a more sustainable future," said Jacobs chair and CEO Steve Demetriou. 

Jacobs will expand strategic support to clients' mission-critical defense and clean energy priorities, nuclear clean-up and decommissioning, environmental restoration and operational support. Clive White of Wood Nuclear will lead the new combined business as senior vice president of Critical Mission Solutions, International (CMS-I). 

Under the acquisition, Jacobs will leverage its industry leading integration approach to develop a joint Jacobs-Wood Nuclear Integration Management Office (IMO). The office will work to oversee the integration process to maximize the value of the new entity. 

Jacobs senior vice president, Pete Lutwyche, will supervise the implementation of the IMO and support its initiatives in the broader business. This purchase will provide Jacobs with more than 2,000 employees to the company’s business. Jacobs has planned to recruit 300 to 400 additional employees into highly-skilled roles into 2021.

Wood Nuclear will also expand Jacobs' U.K. employee base to nearly 11,000 and increase access to specialist talent,  particularly in locations across Cheshire and Cumbria, U.K., and expanded reach into Europe, Japan, the Middle East, South Africa and the U.S.  

Jacobs' has projected its investment in the U.K.'s largest independent nuclear research, development and testing facilities, will provide enhanced capabilities, including remote handling, cyber, inspection technology and test rig facilities.

"With our shared values, technical heritage and global reach, we are combining complementary capabilities to deliver high value, differentiated nuclear and defense solutions for our clients and greater opportunities for our people across our diverse portfolio," added Demetriou.

About Jacobs 

At Jacobs, we're challenging today to reinvent tomorrow by solving the world's most critical problems for thriving cities, resilient environments, mission-critical outcomes, operational advancement, scientific discovery and cutting-edge manufacturing, turning abstract ideas into realities that transform the world for good. 

With $13 billion in revenue and a talent force of more than 55,000, Jacobs provides a full spectrum of professional services including consulting, technical, scientific and project delivery for the government and private sector.