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John Wood Group PLC - Aberdeen, Scotland-based oilfield and engineering services provider - Completes the sale of its stake in its joint venture focused on rotating equipment, Ethos Energy Group Ltd, to One Equity Partners LP for $138 million in cash. Says the $42 million of prior planned loan notes were replaced by an additional cash consideration at completion. Wood owned 51% of EthosEnergy with Siemens Energy AG and says it contributed $34 million of adjusted earnings before interest, tax, depreciation and amortisation in 2023. John Wood Group Chief Executive Ken Gilmartin says: ‘We are pleased to complete the sale of EthosEnergy to One Equity Partners. This strategic divestment is part of our strategy to be selective and focused on our core business. We will continue to align our portfolio as part of our commitment to simplify Wood.’ Current stock price: 67.00 pence, up 2.1% on Thursday morning in London. 12-month change: down 60% Copyright 2025 Alliance News Ltd. All Rights Reserved.
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